Exclusive: GST Collections Exceeds Rs 1 trillion in India for First Time
The Goods and Service Tax Collections have crossed Rs. 1.03 trillion in the month of April superseding the Rs. 1 trillion mark for the first time post the new tax regime which was rolled out on 1 July last year.
As per the statement released by the finance ministry, the buoyancy in tax collections is being attributed to economic recovery and improvement in compliances. However, it is also being cautioned that the higher numbers could be partly attributed to the payment of tax arrears in the month for the last financial year.
Further, market analysts believe that there will be a further improvement in GST revenue buoyancy post implementation of the e-way bill or electronic tracking of movement of goods from 1 April.
GST Collection Break-Up
Of the total revenue of Rs1.03 tr...