Tax transitions: The Hindu Editorial on GST revenue trends
1 year, 9 months ago

Tax transitions: The Hindu Editorial on GST revenue trends

The Hindu  

The nearly ₹1.5 lakh crore of gross Goods and Services Tax collections in February are notable from several aspects. First, they mark the 12th successive month that GST revenues have stayed over ₹1.4 lakh crore, and the fourth highest single month kitty since the launch of the GST regime. The average monthly GST collections in the first 11 months of 2022-23 now stand at ₹1,49,776 crore, 21.5% higher than the average monthly kitty of little over ₹1.23 lakh crore through 2021-22. While this breakdown is not available for January, February marks the second time in three months that domestic revenues have outgrown taxes from goods imports, with the former rising 15% and the latter just 6%. That represents a pragmatic outlook amid a world tightening its belt for a slowdown, but the Finance Ministry’s attempt to play up February’s GST kitty by arguing that the “28 day” month normally witnesses lower revenues, is disingenuous and unnecessary, as these revenues pertained to transactions undertaken over the 31 days of January.

History of this topic

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