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India’s Goods and Services Tax (GST) collections rose to Rs 1.95 lakh crore in October, marking a 4.6 per cent increase from a year ago. The steady growth in indirect tax revenues signals resilience in consumption and manufacturing, aided by recent structural reforms and improved compliance.

GST collections rise 4.6% in October to Rs 1.95 lakh crore as reforms bolster growth

Suggesting lowering India's average tariff to about 10 per cent, the Global Trade Research Initiative (GTRI) said this can be achieved without major revenue loss.&nbsp;

Reduce customs duty slabs to 5; simplify structure to boost manufacturing, exports: GTRI tells Centre

Union Budget 2025 : Understanding Sin Taxes and their purpose

&nbsp;The move is likely to&nbsp;see&nbsp;a substantial surge in the revenue collection for the government

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If the GST collection rates continue to drop, the government might be prompted to announce additional government borrowing of a similar amount

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India has adopted a dual GST model, where there will be 2 levels of taxes that would be levied separately by the Central Government and State Governments.&nbsp; 
&nbsp;

States could potentially earn Rs 45,000 crore from GST

Dan Martin, Senior Analysts of Fitch Ratings said, “The impact on the economy will increase the longer the disruption continues, but Fitch has already revised India's GDP growth forecast for FY17 to 6.9% from 7.4%.”

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government-revenue

India’s Goods and Services Tax (GST) collections rose to Rs 1.95 lakh crore in October, marking a 4.6 per cent increase from a year ago. The steady growth in indirect tax revenues signals resilience in consumption and manufacturing, aided by recent structural reforms and improved compliance.

Suggesting lowering India's average tariff to about 10 per cent, the Global Trade Research Initiative (GTRI) said this can be achieved without major revenue loss. 

A sin tax is a tax levied on goods or services that are considered harmful or undesirable, such as tobacco, alcohol, and sugary drinks. This video explains the concept, purpose, and impact of sin taxes on society and government revenue.

 The move is likely to see a substantial surge in the revenue collection for the government

If the GST collection rates continue to drop, the government might be prompted to announce additional government borrowing of a similar amount

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Government Revenue

GST collections rise 4.6% in October to Rs 1.95 lakh crore as reforms bolster growth

Reduce customs duty slabs to 5; simplify structure to boost manufacturing, exports: GTRI tells Centre

Union Budget 2025 : Understanding Sin Taxes and their purpose

Will stop licensing indices to foreign players lift govt revenue collection?

Budget 2018: A case study on GST collections

How will RBI read the upcoming Budget?

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