Average Monthly GST Collection Declines Again
The Union Finance Ministry said on Sunday that there are clear signs of improvement in the country's economy. According to the ministry, in the month of July, the GST collection has reached 1.16 lakh crore, with an increase of 33 percent as compared to the previous year. The Finance Ministry says that this GST collection gives a clear indication that the economy is improving rapidly.
However, if we look at the annual level figures, there is only a decline in the GST collection, in which the central government is hoping for improvement this year. Figures show that during the year 2019-20, the Finance Ministry collected a total GST of Rs 12.12 lakh crore. It is worth noting that those were the years when the pandemic did not spread in India.