New Delhi, June 3 -- Goods and services tax (GST) collections are buoyant, exceeding Rs.2 trillion in the past two months. Mint looks at what they indicate about the state of the economy. Is it time to go ahead with the overdue rationalization of GST rates?

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In April, gross GST collection was at a record high of Rs.2.36 trillion. It reflected the transactions in the month of March, which, being the last month of the fiscal, saw firms pushing sales to achieve their annual targets. Not many expected similar numbers in May as transactions in April typically suffer from the 'hangover effect' of strong March sales. But the May collection came at Rs.2.01 trillion. If one normaliz...