GST collections: Signifying economic resilience

India reported gross GST collections at Rs 1.72 Lakh crore for the month of Oct’23, an increase of 13.4 per cent over the last year. Six years since its introduction, the GST system has resulted in increased tax buoyancy, eased logistics, better tax administration, and increased formalization, among others. Persistent improvement in tax collections bodes well for the fiscal position, and ind…