The Goods and Services Tax (GST) remains a key topic in India’s economic discussions. Finance Minister Nirmala Sitharaman is expected to review the GST figures as she prepares to present the Union Budget 2024-25 on July 23. The GST aims to streamline the taxation system for goods and services in India, reducing the impact of multiple indirect taxes. Introduced in July 2017, it has significantly influenced the Ministry of Finance’s budget allocation. With GST revenue expected to exceed the current year’s estimate, the government may consider raising targets for the next fiscal year in the upcoming budget announcement. Although no official statement has been made, experts believe this is likely due to the unprecedented collection figures.
Source A2ztaxcorp
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