What is the average monthly GST mop-up so far this fiscal, and who made this announcement
Finance Minister Nirmala Sitharaman announced that the average monthly GST mop-up is ₹1.66 lakh crore so far this fiscal.
- Finance Minister Nirmala Sitharaman announced that the average monthly Goods and Services Tax (GST) mop-up for this fiscal year is ₹1.66 lakh crore.
- This figure represents the average amount collected as GST on a monthly basis so far in the current financial year.
- GST is a value-added tax levied on the supply of goods and services in India.
- The mop-up refers to the total amount collected as GST by the government.
- The figure of ₹1.66 lakh crore indicates the combined GST collections from all states and Union Territories.
- This average monthly mop-up reflects the revenue generated through GST and contributes to the government's overall tax collection.
- Sitharaman's announcement highlights the government's success in continuously collecting substantial amounts of GST on a monthly basis.
- It gives an indication of the overall economic activity in the country, as higher GST collections suggest increased consumption and business transactions.
- The monthly average of ₹1.66 lakh crore signifies a robust GST revenue stream for the government during this fiscal year.
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