Finance Minister says GST collections match pre-GST levels while empowering States
Jammu, May 7 -- The Goods and Services Tax (GST) system of indirect taxation across India has achieved an important milestone, according to recent assertions by the Union Finance Minister. Nirmala Sitharaman noted that overall GST collections from economic activities have matched levels seen prior to the 2017 rollout of the landmark reforms, despite facing challenges from the Covid-19 pandemic.
As a percentage of the country's Gross Domestic Product, GST revenues are now equivalent to what was obtained through the multiplicity of taxes existed in the pre-GST era. Sitharaman credited this recovery to improved tax administration by both central and state level authorities. She highlighted that this feat was achieved even with the prevailin...
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