NEW DELHI: After breaching the ₹1 trillion mark in goods and services tax (GST) collections for two consecutive months, indirect tax mop-up in June fell marginally to ₹99,936 crore. The sluggish momentum in tax collection growth is partly due to the cuts in tax rates, following the GST Council’s decision to moderate rates wherever it found a compelling case. Abhishek Jain, tax partner, EY India, said while sustenance of steady GST collection is applaudable, with the government’s focus on curbing tax evasion, tax collections could further increase. Thanking the @GST_Council, all state governments, union territories, trade and industries for their continued support," Sitharaman said on Twitter. Denouncing the critics who argued for a single-slab GST, Jaitley said they must realise that it is possible only in extremely affluent countries, where there are no poor people.

Source: Mint July 01, 2019 11:29 UTC