The GST collections for December 2022 stood at Rs 1,49,507 crore -- 2.5 per cent more than Rs 1,45,867 crore collected in November 2022, according to figures released by the Finance Ministry on Sunday.This amount is also 15% higher than the GST collections in December 2021, which were Rs 1,29,780 crore.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/j3YDUkq
The Goods and Services Tax (GST) is a value-added tax that is applied to the sale of goods and services in India. It is not uncommon for GST revenues to fluctuate from month to month due to changes in economic activity and consumer demand.
In this case, it appears that GST revenues in India grew by approximately 15% to Rs 1.49 lakh crore (approximately $20.4 billion) in December. This increase could be due to a variety of factors, including an increase in economic activity, consumer spending, and the number of businesses registered for GST.
It is important to keep in mind that GST revenues can be influenced by a variety of economic and policy factors, and that past performance is not necessarily indicative of future results. Governments rely on GST revenues to fund public services and infrastructure, and changes in GST revenues can impact the overall fiscal health of the government.
