aditya
7:44 am
What is the news about?
The recent trends in GST revenue indicates that the recovery is neither smooth nor fast
What is the progress of GST revenue collection?
- With gross revenues of Rs. 1.12-lakh crore in August, the GST has now yielded over Rs. 1-lakh crore a month for almost a full year
- The August collections are 30% higher and also 14% above the pre-pandemic levels of 2019-20
- It pertains largely to economic activity in July and the ease in mobility restrictions in most States
- While revenues from domestic transactions were up 27%, key industrial States saw faster growth, including Karnataka, Tamil Nadu and Maharashtra.
Is this an indicator of faster economic growth?
