India's poorest 50 per cent pay two-thirds of GST: Oxfam

[Mrloveday]

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The total GST collected (by both centres and the states) in 2021-22 was Rs 14.7 lakh crore, and going by the current trends, total GST collections in 2022-23 could touch Rs 18 lakh crore.

NEW DELHI: Contrary to the popular narrative that only a handful of Indians pay taxes, the latest Oxfam report “Survival of the Richest: The India Story” has an entirely different take on the issue.

The report shows how the poorest 50% of the population is paying most of the indirect taxes or consumption-related taxes.

According to the report, a little less than two-thirds (64.3%) of the total GST is coming from the bottom 50% of the population, one-third from the middle 40% and only 3-4% per cent from the richest 10% of the country.

The total GST collected (by both centres and the states) in 2021-22 was Rs 14.7 lakh crore, and going by the current trends, total GST collections in 2022-23 could touch Rs 18 lakh crore.

The Oxfam report further says that the bottom 50% of income group spends a higher percentage of their income on indirect taxes than the middle 40% and the top 10% combined. The bottom 50% of the population at an All-India level pays six times more on indirect taxation as a percentage of income compared to the top 10%.

ALSO READ | Top 10 richest in India have Rs 27.52 lakh crore in wealth: Oxfam

“Estimates suggest that the bottom 50% spends 6.7% of their income on taxes for select food and non-food items. Middle 40% spend half of that at 3.3% of their income on food and non-food items. However, the top 10% wealth group spends a mere 0.4 per cent of their income on these items,” says the report.

The report suggests that the government should reduce the GST slabs on essential commodities, which form the majority of the poor and middle classes’ spending habits and hike the taxes on luxury goods. “This will lead to revenue generation, which is progressive in nature and reduces the burden on the poor,” it says.

Oxfam also exhorts levying a wealth tax on all Indian billionaires. It says that a 3% wealth tax on the total wealth of Indian billionaires can fund the National Health Mission, the largest healthcare scheme in India, with a current allocation of Rs 37,800 crores, for 5 years.

@Sharma Ji @Paitoo @Joe Shearer

India's poorest 50 per cent pay two-thirds of GST: Oxfam

NEW DELHI: Contrary to the popular narrative that only a handful of Indians pay taxes, the latest Oxfam report “Survival of the Richest: The India Story” has an

www.newindianexpress.com

 

[Circadian Rhythm]

GST is NOT decided by Central Government

All States come together in GST council and decide which items are to be taxed and how much

That is because all States get at least 50 percent share in total GST collection

Food items are generally Tax free or are taxed at 5 percent

 

[Mrloveday]

GST is NOT decided by Central Government

All States come together in GST council and decide which items are to be taxed and how much

That is because all States get at least 50 percent share in total GST collection

Food items are generally Tax free or are taxed at 5 percent

Next : GST was not implemented by Modi

 

[Circadian Rhythm]

India's direct Taxes collection is as follows

PERSONAL Income Tax is 10 .45 Lakh crores

Corporate Taxes is 9 Lakh crores

These are paid by Upper and Middle classes

So to say that only poor are paying Taxes is absolutely wrong

Next : GST was not implemented by Modi

All State Governments need Money for Social welfare programmes ie Freebies

Somebody has to pay for it

The Bottom 50 percent is also buying Expensive Consumer goods like Mobiles, Electronic goods , 2 wheelers ,.small cars
Even though it is through Loans and EMIs

 

[Thinking]

Next : GST was not implemented by Modi

Those who know least, live most comfortable in their cocoon.
Some eyes can't be opened.

 

[CallSignMaverick]

Fake news

Taxing truths: Decoding appropriate GST shares

“But sir, most of GST is paid by the poor in India.” This innocuous comment by a student during a discussion on the state of the Indian economy made me realise

www.newindianexpress.com

 

[Thinking]

GST is NOT decided by Central Government

All States come together in GST council and decide which items are to be taxed and how much

That is because all States get at least 50 percent share in total GST collection

Food items are generally Tax free or are taxed at 5 percent

Yep, there is a GST council which includes state representatives. There was one meeting right before budget.

GST is indeed a mess. There should be two slabs, lowering the rate and rationalizing it. Everyone agrees on it except criminal politicians and dumb babus.

besides, GST growth has stagnated as part of overall tax collection (for obvious reasons). Direct tax collection is growing especially income tax which is payed by 1% Indians. They pay more income tax than most Indians pay in GST.

 

[Thinking]

Fake news

Taxing truths: Decoding appropriate GST shares

“But sir, most of GST is paid by the poor in India.” This innocuous comment by a student during a discussion on the state of the Indian economy made me realise

www.newindianexpress.com

Nevermind the data, the idea behind it is that poor are somehow paying all the taxes which is a total bs. Direct taxes provide most taxes to Indian governments (paid by very few). And these tax payers get THE LEAST BENEFIT from government.

 

[Vikramaditya1]

No they don't. Bullshit theory

 

[Mrloveday]

India's direct Taxes collection is as follows

PERSONAL Income Tax is 10 .45 Lakh crores

Corporate Taxes is 9 Lakh crores

These are paid by Upper and Middle classes

So to say that only poor are paying Taxes is absolutely wrong



All State Governments need Money for Social welfare programmes ie Freebies

Somebody has to pay for it

The Bottom 50 percent is also buying Expensive Consumer goods like Mobiles, Electronic goods , 2 wheelers ,.small cars
Even though it is through Loans and EMIs

Fake news

Taxing truths: Decoding appropriate GST shares

“But sir, most of GST is paid by the poor in India.” This innocuous comment by a student during a discussion on the state of the Indian economy made me realise

www.newindianexpress.com

Nevermind the data, the idea behind it is that poor are somehow paying all the taxes which is a total bs. Direct taxes provide most taxes to Indian governments (paid by very few). And these tax payers get THE LEAST BENEFIT from government.

No they don't. Bullshit theory

Lame attempt at Gaslighting.

We all know who the Gujarati Bania works for.

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Accept third party cookies

 

[Thinking]

Lame attempt at Gaslighting.

We all know who the Gujarati Bania works for.

To view this content we will need your consent to set third party cookies.
For more detailed information, see our cookies page.

Accept third party cookies

You realize that every new post of yours make your look worse, right? This is what happens when you don't understand the content but rely on someone's "great knowledge" to score a point?

Even in America, income tax is biggest source of federal tax and that share is growing every year. Go figure out, why!

 

[Alter_Ego]

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Accept third party cookies

The total GST collected (by both centres and the states) in 2021-22 was Rs 14.7 lakh crore, and going by the current trends, total GST collections in 2022-23 could touch Rs 18 lakh crore.

NEW DELHI: Contrary to the popular narrative that only a handful of Indians pay taxes, the latest Oxfam report “Survival of the Richest: The India Story” has an entirely different take on the issue.

The report shows how the poorest 50% of the population is paying most of the indirect taxes or consumption-related taxes.

According to the report, a little less than two-thirds (64.3%) of the total GST is coming from the bottom 50% of the population, one-third from the middle 40% and only 3-4% per cent from the richest 10% of the country.

The total GST collected (by both centres and the states) in 2021-22 was Rs 14.7 lakh crore, and going by the current trends, total GST collections in 2022-23 could touch Rs 18 lakh crore.

The Oxfam report further says that the bottom 50% of income group spends a higher percentage of their income on indirect taxes than the middle 40% and the top 10% combined. The bottom 50% of the population at an All-India level pays six times more on indirect taxation as a percentage of income compared to the top 10%.

ALSO READ | Top 10 richest in India have Rs 27.52 lakh crore in wealth: Oxfam

“Estimates suggest that the bottom 50% spends 6.7% of their income on taxes for select food and non-food items. Middle 40% spend half of that at 3.3% of their income on food and non-food items. However, the top 10% wealth group spends a mere 0.4 per cent of their income on these items,” says the report.

The report suggests that the government should reduce the GST slabs on essential commodities, which form the majority of the poor and middle classes’ spending habits and hike the taxes on luxury goods. “This will lead to revenue generation, which is progressive in nature and reduces the burden on the poor,” it says.

Oxfam also exhorts levying a wealth tax on all Indian billionaires. It says that a 3% wealth tax on the total wealth of Indian billionaires can fund the National Health Mission, the largest healthcare scheme in India, with a current allocation of Rs 37,800 crores, for 5 years.

@Sharma Ji @Paitoo @Joe Shearer

India's poorest 50 per cent pay two-thirds of GST: Oxfam

NEW DELHI: Contrary to the popular narrative that only a handful of Indians pay taxes, the latest Oxfam report “Survival of the Richest: The India Story” has an

www.newindianexpress.com

This is government assisted wealth transfer from the poor to the rich.
No wonder the wealth gap is ballooning.

 

[Joe Shearer]

This is an old story and has featured all over the place, perhaps on PDF also.

It is suggested that the thread be dropped here. Just a suggestion.

 

[Mrloveday]

This is government assisted wealth transfer from the poor to the rich.
No wonder the wealth gap is ballooning.

Middle class Bhakts of Modi Zee dont realize that he is stealing from them as well.

Stockholm Syndrome

@Nilgiri Sir @Joe Shearer

 

[Vikramaditya1]

Lame attempt at Gaslighting.

We all know who the Gujarati Bania works for.

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For more detailed information, see our cookies page.

Accept third party cookies

Why don't you talk about the topic at hand rather than jump like a monkey from topic to topic. Because you don't have any data to back this up, all you have is Oxfam bullshit written by some half wit moron who don't know what's 2+2. Go ahead, prove your thread.