GST collection crosses Rs 2 lakh crore benchmark, thanks to the strong momentum in the economy and efficient tax collections - Nirmala Sitharaman, Finance Minister
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said GST collection breached the Rs 2 lakh crore milestone on the back of strong economic momentum and efficient tax realisation.
In a post on X (formerly Twitter), the Minister also lauded the efforts of the central and State officers of the revenue department and the Central Board of Indirect Taxes & Customs (CBIC) for their “sincere and collaborative efforts” in achieving this landmark.
“GST collection crosses Rs 2 lakh crore benchmark, thanks to the strong momentum in the economy and efficient tax collections,” she said.
Sitharaman also said, “there are no dues pending on account of IGST (Integrated GST) settlement to the states.” Goods and Services Tax (GST), which subsumed over a dozen local taxes, was rolled out on July 1, 2017. Currently, there are 1.45 crore registered taxpayers on the GST system.