Gaining Ground: GST buoyancy stable despite rate cuts

The goods and services tax (GST) collections seems to stabilise after several months of below-target growth. Despite the rate cuts on as many as 22 items including many key consumer goods that came into effect on the first day of the month, collections for January (reported in February) came in at `97,247 crore, as much as the monthly average for the first ten months of the fiscal. Of course, the…