Why in the news?

• The Goods and Services Tax (GST) revenue collections in December marked a rebound to touch Rs 86,703 crore (till January 24), reversing the sliding trend of last two months.

More on news

• Though the December collections still remained 4.7 per cent below the monthly target of Rs 91,000 crore and 7.8 per cent lower than Rs 94,063 crore collected for July (as on August 31), the rise in GST revenue assumes significance as it was for the first full month after the rate cut on over 200 items.
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• Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs80,808 crore, from over Rs83,000 crore in October.
• The rise in GST mop-up for December is expected to bring some relief for the government’s finances on the indirect tax front.
• Tax experts said that the rise in December’s GST collection reflects stabilisation as transition issues are waning out and are expected to improve in the coming months.

Source

The Hindu, Indian Express.