1) Many taxpayers, especially small enterprises which deal with large enterprises, have voluntarily chosen to be a part of the GST regime in order to avail input credits.
2) The GST regime has not affected the tax collections of most states as the distribution of the GST base among states is very closely linked to the size of the state economies.
3) Performance of individual states on the international exports front is strongly correlated to the standard of living in the states.
4) When compared to similar economies, large Indian exporters corner a smaller share of total exports.
5) Internal trade within India contributes 60% to the overall economic growth. This is higher than last year’s Survey estimates of inter-state trade of goods at between 30-50% of GDP.
6) The size of India’s formal sector, non-farm payroll is substantially greater than currently believed.
7) Similarly, the size of the formal sector (defined here as being either in the social security or GST net) is 13 percent of total firms in the private non-agriculture sector but 93 percent of their total turnover.
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