GST revenues robust amid stricter audit, 2024 may see tax base widen

Finance Minister Nirmala Sitharaman had said earlier this year that the GST (goods and services tax) regime has brought a significant improvement in the system which has not only benefited the states but ultimately the “people as well”. One may argue that the current weighted average tax rate under GST is, which is lower than the revenue neutral rate of 15%, has led to lower tax collec…