GST regime brings in nearly 50 lakh new taxpayers

The Goods and Services Tax (GST) regime has seen a significant change in the assessee segmentation compared to the pre-GST era when VAT and Central excise were in place. There are fewer assessees now in the lowest and highest slabs while all the other slabs have seen an increase. As on July 25, a total of 63.7 lakh taxpayers migrated from the old system, while 49.53 lakh new taxpayers became part…