The gross Goods and Services Tax (GST) collections have risen to Rs 1,48,995 crore for July (for sales in June), the second highest level since the July 2017 rollout of the indirect tax regime.
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| The gross Goods and Services Tax (GST) collections have risen to Rs 1,48,995 crore for July. |
Statistics
- July’s GST collection is 28% higher than the same month last year
- It is driven by a 48% surge in revenues from import of goods
- Revenues from domestic transactions, including import of services are 22% higher than a year ago
What does the improved revenue signify?
Experts
say that action against tax evaders, including steps being taken by
state authorities, have resulted in better compliance and helped push
the growth in GST collections along with economic recovery and higher
inflation rate.
