The finance ministry may stop releasing a detailed statement on GST collections data on the first day of every month, and may instead opt for a more concise version. The GST collection data for July 2024 is Rs 1.74 lakh crore, but an official statement has not been released yet. Ministry officials have mentioned “clarity” as the main reason for this potential change. Former Chief Economic Adviser Arvind Subramanian has previously highlighted the importance of focusing on revenues net of refunds, rather than headline collections. The altered version of the statement may mainly include headline figures such as total collections, Central GST, and State GST mop-up numbers. However, a final decision on whether to release a shorter version of the monthly GST data is still pending.
Source A2ztaxcorp
