Gross GST revenue in June nears Rs.1.85 lakh cr
New Delhi, July 2 -- Gross Goods and Services Tax (GST) revenue in June neared Rs.1.85 lakh crore, a moderate 6.2% annualised increase because of high refunds and temporary softening of demand amid adverse geopolitical developments, official data showed on Tuesday.
The collections in the first quarter of the current financial year, however, saw robust double-digit growth of about 12% at Rs.6,22,363 crore, reflecting overall resilience of the economy. On the occasion of GST's eighth anniversary on July 1, Prime Minister Narendra Modi said the new indirect tax regime stands out as a "landmark reform" that has reshaped India's economic landscape.
"By reducing the compliance burden, it has greatly improved the Ease of Doing Business, particular...
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