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GST Collection UPSC NOTE

 Record collection

  • Year-end compliances lifted India’s gross Goods and Services Tax (GST) revenues past a record ₹2.1 lakh crore in April, reflecting a 12.4% growth over the previous highest tally of ₹1.87 lakh crore in the same month last year

  • According to the finance ministry, it’s achieved due to the strong momentum in the economy and efficient tax collections and there were no dues pending on account of IGST (Integrated GST) settlement to the States.

  • Revenues from domestic transactions grew 13.4%, while goods imports yielded an 8.3% uptick, helping GST inflows “breach the landmark milestone of ₹2 lakh crore”

  • April’s GST revenues, for transactions in March, are typically the highest in a year as taxpayers square their books for the financial year and remit any pending dues to meet compliance deadlines.



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: GST Collection UPSC NOTE
GST Collection UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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