Six years on, GST has stabilised and delivered almost all objectives even though its full potential is yet to be realised. The taxpayer base has more than doubled from 63.9 lakh in 2017 to around 1.40 crore. Despite the upward revision in threshold turnover limits, GST revenues have grown from a monthly average of ₹89,885 crore in the first year to the ‘new normal’ of ₹1.50 lakh crore in the last financial year, with peak collections of ₹1.87 lakh crore in April 2023.
Source: economictimes.indiatimes.com
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