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Still far from achieving full potential : CAG on GST

Jul 31, 2019 14:35 IST

In its first report on GST, the Comptroller and Auditor General of India or the CAG has pointed out that the new tax regime has not achieved its full potential in terms of simplification, and that's even after two years of roll-out. The report also highlighted other deficiencies and loopholes in the tax regime and noted that the growth of indirect taxes has slowed down to 5.8 percent in the period 2017 to 2018 as compared to a 21.33 percent decline during 2016-2017. But with GST, revenues also dipped further to 10 percent.

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