11 Percent Growth Predicted In August GST Revenue
Delhi/Hyderabad, Sept. 1 (Maxim News) Even as the goods and services tax collections figures for August 2023 are to be released on Friday, the Centre has said that GST revenues for the month have shown 11 percent growth over August 2022.
Revenue Secretary Sanjay Malhotra told reporters in Gurugram on the sidelines of an event, that GST revenues for August 2023 have shown a growth of 11 percent year-on-year due to increased compliance and less evasion. The GST collections were Rs. 1,43,612 crore in August 2022. “Roughly numbers are in the range of 11 percent year-on-year growth as in earlier months.
“GST revenues during the June quarter grew by more than 11 percent. This translates into a tax-GDP ratio of more than 1.3. Malhotra said GST collections have grown by more than nominal GDP and this is despite no increase in tax rates. (Maxim News)
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