New Delhi: Finance Minister Nirmala Sitharaman said that new tax regime has resulted in efficiency gains in transport and logistics sector.
“GST has resulted in efficiency gains in the transport and logistics sector. Inspector Raj has vanished. It has benefitted MSME. Consumers have got an annual benefit of Rs 1 lakh crore by GST,” she said during her Budget speech.
According to the Union Finance Ministry, GST revenue collection for January 2020 stands second-highest monthly collection since the implementation of the new tax regime.
The government has settled Rs 24,730 crore to CGST and Rs 18,199 crore to SGST from the IGST as regular settlement. The total revenue earned by the Central State Governments after regular settlement in the month of January 2020 is Rs 45,674 crore for CGST and Rs 46,433 crore for the SGST.
