GST is regarded as One Nation, One Tax, One Market. It is an indirect tax system which help in eliminating the cascading effect of tax. The GST Collection for September 2022 once more exceeded Rs. 1.4 lakh crore, drawing a little bit closer to the $1.45 trillion threshold. The increase in GST collections was facilitated by a pickup in consumer spending, a high rate of inflation, a partial impact of the rate hike decisions made at the 47th GST Council meeting, as well as a more general economic rebound.
“What triggered the GST collection in 2022, let’s dive into facts & figures”
Credits: Abhir Gola and Priyanka Jadhav