In a tweet, the Prime Minister said, The record GST collection in April 2021 is great news for the economy. It shows that our citizens are increasingly adopting digital payments and have faith in the system. This is a positive sign for the economy and will help the country to build a self-reliant India.
The GST collection for April 2021 is 14% higher than the previous month’s collection of Rs 1.24 lakh crore. The increase in GST collections is attributed to the rise in economic activities and the government’s measures to curb tax evasion.The GST is a single, indirect tax that is levied on the supply of goods and services in India. It is the country’s most significant tax reform since independence and has simplified the tax structure, making it easier for businesses to comply with tax laws.
The government has been taking several measures to improve GST compliance and increase collections, including introducing the e-invoicing system, implementing the e-way bill system, and launching the GST refund drive.
The record GST collection in April 2021 is expected to boost the government’s revenues and help the country’s economic recovery from the impact of the COVID-19 pandemic. The government has already announced several measures, including stimulus packages and policy reforms, to support businesses and revive the economy.
Experts believe that the increase in GST collections is a positive sign for the economy and will help the government to maintain fiscal discipline and achieve its revenue targets. The GST collection for May 2021 is also expected to be high, as economic activities continue to pick up pace across the country.
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