Economic Survey Analysis: Future tax collection improvement depends upon GST revenue buoyancy

Economic Survey 2019-20 highlights that ‘Indirect taxes’ contributed 46% to Gross Tax Revenue (GTR) in 2019-20, attributes said growth to “widening of tax base due to increase in the number of indirect tax filers in the GST regime” which has led to improved tax buoyancy; Explains that, “Going forward, sustaining improvement in tax collection would depend on the revenue buoyancy of GST”; GST collections grew by 4.1% during April-November 2019 with collections for t...