GST to hit shadow economy: Shaktikanta Das

The indirect tax regime would also raise GDP growth by 1.5-2 percentage points

Economic Affairs Secretary Shaktikanta Das on Thursday said the goods and services tax (GST) would hurt the shadow economy.
 
The indirect tax regime would also raise gross domestic product (GDP) growth by 1.5-2 percentage points.
 
The Lok Sabha on Wednesday passed the four GST Bills — relating to the Centre, Union territories, inter-sale movement and compensation. Being money Bills, these do not require Rajya Sabha approval.
 
The GST Council will now discuss rules on Friday and a committee of officers will discuss specific rates next month. The GST is likely to be rolled out from July 1.