New Delhi: Union Finance Minister Arun Jaitley on Tuesday said that Goods and Services Tax (GST) collections in April exceeding one lakh crore rupees is a landmark achievement and a confirmation of increased economic activity.
Jaitley took to Twitter and wrote, "GST collections in April exceeding Rs. 1 lakh crore is a landmark achievement and a confirmation of increased economic activity as brought out by other reports."
"With the improved economic climate, introduction of e-way bill and improved GST compliance, GST collections would continue to show a positive trend," he tweeted.
The Finance Ministry said that this is the first occasion that the monthly revenue has breached the 1 trillion milestone. It said, the buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance.
In his tweet, Jaitley also congratulated taxpayers, members of the GST Council, State and Central Government tax administration for the achievement.
"I would like to congratulate all Taxpayers, Hon'ble Members of the GST Council, State and Central Government tax administration for this achievement. Increased tax collections will help the nation to expand its economic horizons and take it to loftier heights," he tweeted.