GST April mopup soars 12.4%, crosses Rs 2 lakh crore for 1st time

Yearend sales and improved compliance contributed to the significant increase in goods and services tax (GST) collections, surpassing the Rs 2-lakh-crore milestone for the first time. Experts believe that this milestone could mark a turning point for the almost seven-year-old indirect tax system. The most recent data from the finance ministry, reflecting transactions in March, indicated a 12.4% growth in GST collections.