Record GST collection indicates economic recovery: Finance Secretary

The record-high collection of Goods and Services Tax (GST) was because the economy is on the path to recovery, Finance Secretary Ajay Bhushan Pandey told CNBC-TV18.

“We’ve brought many changes at system level for better compliance. We’re taking targeted action against those who have discrepancies in their record,” Pandey told the news channel.

In December 2020, GST collection rose to Rs 1.15 lakh crore, the highest ever monthly revenue since the system was implemented in July 2017.

The finance secretary said Q2 direct tax collections were down by 21-22 percent, but the downward gap was narrowing.

Source from: https://www.moneycontrol.com/news/business/economy/record-gst-collection-indicates-economic-recovery-finance-secretary-6299641.html

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