Union Budget 2024: How GST Collection Impacts the Budget

By: Admin July 09, 2024 Categories: GST Recent News

Over the years, the Goods and Services Tax (#GST) has remained a central topic in India’s economic discussions. As Union Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2024-25 in Parliament on July 23, #GST figures are once again expected to play a significant role.

GST, a multi-level taxation system introduced in July 2017 under Prime Minister Narendra Modi’s government, aims to reduce the cascading effect of multiple indirect taxes on the economy. Its implementation has significantly influenced the Ministry of Finance’s budget allocations.

With #GSTRevenue likely to exceed the Revised Estimate for the current financial year, the central government may consider raising the targets in the upcoming Budget. While no official statements have been made, experts anticipate this possibility given the record collection figures.

UnionBudget2024 #EconomicPolicy #IndiaFinance #Taxation #BudgetAllocation

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