GST collections stay strong despite rate cuts; Govt upbeat on Oct outlook
India's goods and services tax collections are strong even after recent rate cuts. This gives the government confidence in meeting budget estimates. The reforms are supporting local consumption and government revenue. Officials expect any deviation from budgeted revenues to be modest. The timing of the reforms with the festive season boosted domestic sales.
New Delhi: India's goods and services tax (GST) revenues have remained robust even after early September's sweeping structural rationalisation that slashed rates on 99% of the taxed items, giving North Block confidence it would eventually have to deal with only a modest and manageable shortfall from FY26 budget estimates.
