Rising GST collections

04 SEP,2021 | MEDC


 

Central and state government GST collections touched Rs. 1.12 trillion in August 2021. This is a 30% rise over the corresponding figure in the same month a year ago. It is also the second consecutive month of GST collection remaining above the Rs. 1.1 trillion mark. Lockdown restrictions in parts of India dampened economic activity in May 2021, but the green shoots of revival are again becoming visible. Tax collections are expected to rise further when the festival season arrives and people make large-ticket purchases. The challenge then will be ensuring that social distancing is maintained, and Covid-infection does not rise. Vigilance is the need of the hour, as the global stagflation threat cannot be underestimated. There is certainly hope for recovery but also a risk that it could be uneven. It is still too early to celebrate.

*Photo Credit: Google

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