Why is GST revenue running ahead of overall economy?4 min read 15 Nov 2022, 10:37 PM IST
There is a boost in GST revenues that goes beyond circumstantial factors like high inflation.
Revenues from the goods and services tax (GST)—the countrywide indirect tax since June 2017—have been on a tear. In October, GST revenues touched ₹1.5 trillion, the second-highest monthly collection ever, after April 2022. Monthly GST revenues have exceeded ₹1.4 trillion for eight straight months, a statistic the central government has been playing up. Why have GST revenues risen this fast, outpacing even direct tax collections? Are there certain segments pulling performance? And what do GST trends tell us about the regional spread of economic activity post-covid?
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