, After GST and Demonetisation Whats the Impact ~ CS GAURAV SHARMA

November 6, 2017

After GST and Demonetisation Whats the Impact



1: Scrutiny of suspected 18 lakh accounts done

2: Cash deposits worth Rs 2.89 lakh crore under investigation

3: Advance data analytics tools identified 5.56 lakhs new suspect cases

4: 4,73,003 suspicious transactions detected

5: Undisclosed income worth Rs. 29,213 crore detected and admitted.

6: Black money worth Rs 16,000 crore did not return post demonetisation

7: RBI spent Rs 7,965 crore on printing new Rs 500 and Rs 2,000 and other denomination notes (Rs 3,421 crore spent in the previous year…)

8: 21 per cent reduction in currency in circulation

9: 56 lakh new tax payers added

10: Number of tax returns filed increase 24.7 per cent compared to 9.9 per cent in previous year

11: Advance tax collections of personal income tax grew at 41.79 per cent over same period of last year

12: Personal income tax under self-assessment tax grew at 34.25 per cent over same period last year.

13: Transactions of more than three lakh suspected shell companies under the radar

14: 2.1 lakh shell companies de-registered and their Properties to be attached.

15: Around 450 companies delisted and 800 untraceable companies to be further delisted

16: More than 400 benami transactions identified and properties worth more than Rs 800 crore attached

17: Deposits in the banking system increased around Rs 3 lakh crore

18: Additional liquidity helped reduce interest rates by 100 basis points

19: Digital payments increase by 56 per cent from 71.27 crore transactions in October 2016 to 111.45 crore transaction in May, 2017


Please wait for 2 years to see the real impact of Demonetization & GST!
Source :-Data Shared as Forwarded info







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