Sakshi Batra is in conversation with Gaurav Choudhury to find what factors led to the surge in GST collections and how crucial is it for the government to sustain the pace at which it is mopping up tax under the new regime.
The total collection from the Goods and Services Tax (GST) topped Rs 1 lakh crore in October. GST collections in October stood at Rs 1,00,710 crore, the second time in the current financial year after April, the last time monthly GST collections topped the targeted Rs 1-lakh crore mark.
The Finance Minister, Arun Jaitley, attributed the success of GST to lower rates, lesser tax evasion, and higher compliance by honest taxpayers and negligible interference by the taxation authorities.
The government was hopeful that it could surpass the landmark of Rs 1 lakh crore at the end of the year due to greater spending during the festive season