GST Collection Soars to New High, Signaling Economic Rebound

  • India's Goods and Services Tax (GST) collection reached a record-breaking Rs 2.10 lakh crore in April 2024.
  • This represents a significant 12.4% year-on-year growth, exceeding expectations.
  • The surge is attributed to a rise in both domestic transactions (up 13.4%) and imports (up 8.3%).
  • This strong performance indicates a potential economic recovery underway in India.
  • Increased tax compliance due to anti-evasion measures is also believed to be a contributing factor.
  • The record collection signifies a positive outlook for government revenue generation.

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