For the 5th continuous month, the Centre’s goods and services tax (GST) collection attained at Rs 1 trillion marks in Feb month. As per the government, this was the outcome of the implemented activities so to enhance the recovery inside the economic activities.
With the same speed, the government can effectively meet the amended GST target for fiscal 2021,
“According to our calculations, the revised GST collections target of Rs5.2 trillion in FY21 is easily achievable, and could in fact be exceeded by at least around 16 basis points of the gross domestic product (GDP). This would also lower the FY22 central govt. GST growth requirement to 15% year-on-year vs. a budget projection of 22% year-on-year,” JM Financial Institutional Securities Ltd declared in a statement on 1 March.
Stating the same experience the Analysts of the Kotak Institutional Equities wrote, “Given the current CGST run-rate of around Rs375 billion, we expect the government’s Central GST collections to exceed the government’s FY2021RE of INR 5.2trillion by around Rs150 billion. Likewise, State GST shortfall may also be around Rs2-2.5 trillion as against our earlier expectation of around Rs2.5-3 trillion.”
GST official is being scheduled so to meet the month so to discuss the problems like the adding the petroleum products under GST. it is to be kept in mind that this had been explained in the past and is the support of disagreement amid Centre and states since the Value Added Tax (VAT) levied on these products forms near 30% of the latter’s revenue.
In one slab the officials are expected to discuss merging the GST tax rates of 12% to 18% 
The union government has accepted for merging the goods and services tax(GST) prices of 12% and 18% in the single slab. Read more. The analyst at JM Financial says this start is urged to be largely revenue neutral to slowly positive as the government strives for financial stabilization.
