Goods and Services Tax (GST) collections in December (for sales in November) rose 11.6 per cent year-on-year to Rs 1,15,174 crore, the highest level since the July 2017 rollout of the indirect tax regime. The trend so farFollowing the outbreak of Covid-19 pandemic, GST revenue collections had been posting a contraction and was at a lower level than the previous year. With the opening up of the economy and resumption of economic activities, GST revenues started to pick up since September. December marked the fourth month in which GST revenue collections have posted a year-on-year growth. The proposed extension of electronic invoicing to all businesses will further prevent leakages in GST revenues.

Source: Indian Express January 01, 2021 13:58 UTC