February GST collection rises 12.5% YoY to ₹1.68 lakh crore
As of February 2024, the total gross GST collection for the current fiscal stands at ₹18.40 lakh crore, up 11.7% for the same period in FY23.
As of February 2024, the total gross GST collection for the current fiscal stands at ₹18.40 lakh crore, up 11.7% for the same period in FY23.
The average tax-GDP ratio for FY15 to FY24 RE is about 10.95%, higher than the ten-year average of 10.5% during 2005-14.
CBDT Chairman Nitin Gupta said robust tax collection numbers projected in the budget are attributable to multiple factors, including higher compliance.
Numbers show fiscal consolidation driven by upbeat tax collections and lower borrowings. Focus on capital expenditure and financial inclusion continues.
Closer reading of numbers show claim of economic boom is misplaced
The provisional direct tax collection is higher than the revised estimate at ₹16.50 lakh crore for FY23