GST collections re-endorses buoyancy of Indian Market - Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt Ltd

The Gross Goods and Services Tax (GST) collections rose 12.7 percent year-on-year to Rs 1,60,122 crore for March (for sales in February), the second highest level since the rollout of the indirect tax regime in July 2017, according to data released by the Finance Ministry on Saturday. The number of returns filed during March were at the highest level since the rollout of the indirect tax regime, showing an improved compliance rate and also indicating the impact of anti-evasion measures being taken by tax authorities.

Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt Ltd. It is a leading mid-market investment banker commented, "The year GST was launched in 2017-18, ₹95,600 crore was the highest monthly collection. GST collected in March 2023, clocked the second highest-ever level at ₹1.60 lakh crore, as per the latest data released by the Govt. This reveals expanding consumption demand, and re-endorses sustained buoyancy of Indian market and the resilience of the Indian economy despite global headwinds."

Source : Equity Bulls

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GSTCollection March2023 PantomathCapitalAdvisors Comments FinanceMinistry