GST surged 15% from a year earlier to ₹1.68 lakh crore in November, as the festival season and strong economic activity contributed to growth, showed data released Friday. "At the moment, most of the other indicators seem to be suggesting that there is resilience in the economy," said Upasna Bhardwaj, chief economist, Kotak Mahindra Bank.
Integrated GST the taxes on interstate purchases of goods and services stood at Rs 87,009 crore, including Rs 39,198 crore on imports. The Centre also got Rs 12, 274 crore in cess
India Business News: FY 2023-24's gross GST collection stands at Rs 13,32,440 crore by November 2023, averaging Rs 1.66 lakh crore monthly. This showcases an 11.9% hike ov
"With global inflation still above central bank targets, one can expect a ‘higher for longer monetary policy stance. Easing of policy is expected in mid-2024 as central bankers try to strike a balance between curtailing inflation and supporting growth," says Chirag Mehta, CIO, Quantum Mutual Fund.