GST collections declined to ₹95,380 crore in October as compared to ₹1,00,710 crore a year ago, mirroring a slowdown in the economy, Press Trust of ?India reported.

GST collections had dropped sharply to a 19-month low of ₹91,916 crore in September. The government has constituted a committee of officers to suggest measures to augment GST revenue collections and administration.

The terms of reference of the panel include making suggestions about systemic changes in goods and services tax (GST) including checks and balances to prevent misuse and measures to improve voluntary compliance. Also, it has been tasked to give inputs on measures for the expansion of the tax base.

Finance Minister Nirmala Sitharaman last month said efforts will be made to further simplify GST and expressed hope that it will help in further improving India's ranking in the World Bank's ease of doing business index.

India has jumped 14 places to rank 63rd in the World Bank's ease of doing business ranking index and the country aims to be within 50 in the next few years.

 

Source : liveMint