Goods and Services Tax (GST) is an historical reform in Indian tax industry by the NDA government led by Honourable Prime Minister Narendra Modi. It was an effort to consolidate a number of levied at local, state and central level. After its implementation everyone was keen to know the effects of GST on Indian economy.
Finance Ministry has released a report on Thursday saying that GST collections has crossed Rs 1 lakh mark. Over 67 million businesses have filed Goods and Services tax returns in October which has amounted to a total of 100710 crores.
It was due to the festive season and anti evasion measures taken by government.
Here is a list of states with maximum growth in tax collection
- Kerela (44 percent)
- Jharkhand (20 percent)
- Rajasthan (14 percent)
- Uttrakhand (13 percent)
- Maharasthra (11 percent)
GST revenue collections in last four months
- July – 96,483 crores
- August – 93960 crores
- September – 94442 crores
- October – 100710 crores