Tag: Tamil Nadu and Puducherry GST zone stands third

Current Trends in Indian Economy Tamil Nadu and Puducherry GST zone stands third The Tamil Nadu and Puducherry Goods and Services Tax (GST) zone has a tax base of 4.57 lakh tax payers administered by Central GST authorities. It has contributed 8.12% of all of India’s GST revenue and 4.72% of the all-India Central Excise Revenue in 2022-23. The zone stands third in the all India-GST revenue collection. The year-on-year national growth in GST revenue collection is 21% during 2022-23 compared to the previous year.  Likewise, the Tamil Nadu and Puducherry Zone revenue has shown a 19% increase in 2022-23 compared to last year.  Tamil Nadu stands third in the large State category after Karnataka and Maharashtra. About GST The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. 4 Slabs of GST - 5%, 12%, 18%, and 28% GST Council Chairman - Union Finance Minister Nirmala Sitharaman Office – New Delhi Started – July 1, 2017