What led to the increase in GST collections by 12.54% in February
GST collections up 12.54% in February
The increase in GST collections by 12.54% in February can be attributed to several factors:
- Improvement in economic activities and business operations leading to higher tax payments.
- Better compliance measures and enforcement against tax evasion, resulting in more revenue collection.
- An increase in the number of registered taxpayers contributing to the tax base.
- Easing of COVID-19 restrictions leading to higher consumer spending and increased tax collection.
- Government initiatives to streamline tax processes, reduce tax evasion, and promote digital transactions.
- Better coordination between states and the center in tax administration and collection efforts.
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