GST Revenues Buoyant Despite Pandemic: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said GST revenues are buoyant despite the COVID-19 pandemic. Presenting the Union Budget for 2022-23, the finance minister said remarkable progress has been made in GST regime, although there are still few challenges remaining. She also informed that no set off of any loss will be allowed on undisclosed income detected during search and seizure operations, while any cess or surcharge on income is not allowed as business expenditure.