The gross Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in January 2026, registering a robust year-on-year growth of 6.2 per cent, according to government sources.
Bengaluru (Karnataka) [India], October 24: The Goods and Services Tax (GST) has been a game-changer in India's taxation system since its rollout in 2017. After almost two decades of deliberation and planning, the country adopted a unified tax structure aimed at simplifying the complex web of
Addressing the gathering after inaugurating multiple developmental projects in Rajasthan, the Prime Minister emphasised how the post-GST era has significantly reduced costs for common citizens, highlighting savings on essential items, footwear, and even motorcycles.
Reduction and rationalisation of Goods and Services Tax slabs - reducing them to two, and exempting certain items, including premiums for health and life insurance - were 18 months in the making, Finance Minister Nirmala Sitharaman said at an NDTV summit Tuesday.
Congress National President, Mallikarjun Kharge on Sunday alleged US President Donald Trump's "pressure is mounting" and the Union Government made the Goods and Service Tax reforms when the elections are close.
The BJP leader hailed the GST reforms and highlighted the government's decision to provide relief on medicines and essential goods. He said the reforms would strengthen India's economy.
The Union Minister said that the government's move to eliminate the 18 per cent GST slab and bring relief on essential items marked a major step towards easing the financial burden on the middle class and the poor.
Union Finance Minister Nirmala Sitharaman on Friday announced that the foremost priority of the government is to ensure that the benefits of the GST tax reforms reach all the common people of the country.
The central government is expected to face a revenue shortfall of Rs 10,664 crore in Integrated Goods and Services Tax (IGST) receipts due to the recent GST rate rationalization, according to an analysis report by the Global Trade Research Initiative (GTRI).
Vaishnaw said that the new GST tax slabs will be effective from the first day of Navaratri, and rates have been reduced for almost every item which is used in the lives of middle-class families.
In a post on X, the EAM, while congratulating Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, stated that the government's decision would enhance the ease of living and business in the country.