GST collections crossed Rs 1 lakh crore in October: Jaitley

Goods and Services Tax collections crossed Rs 1 lakh crore in October, Union Finance Minister Arun Jaitley said Thursday.

The Goods and Services Tax was rolled out on July 1 last year, in an effort to subsume multiple indirect taxes with a single comprehensive tax.
An India Today magazine report describes how GST “got off to a bumpy start, dogged by poor implementation, technical glitches in the launch stages and frequent rate tweaks”.

“The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities,” Jaitley said in a tweet.

“GST collections continue to miss targets, throwing the government’s revenue targets into a tailspin,” it said.
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