News

Published: July 3, 2024
Updated: July 3, 2024

GST Data Discontinuation Raises Eyebrows

Monthly Release Stopped

The Union Ministry of Finance has unexpectedly discontinued the monthly release of GST data, which had provided a comprehensive overview of GST collections.

Previous Practice

Until May, the ministry had issued a formal statement on the first day of every month, highlighting key aspects of GST collections, including central and state revenue.

Last Release

The last release on June 1 showed GST collections for May stood at Rs 1.74 lakh crore, with a year-on-year growth of 11.3%. However, this data was not shared through a formal press release.

New Format

Henceforth, only gross total collections will be released, without providing a breakdown of monthly collections or state-wise figures.

Concerns Raised

The discontinuation of detailed data release has raised concerns, with some experts like former Chief Economic Adviser Arvind Subramanian emphasising the need for revenue data net of refunds.

Impact

The move may limit transparency and make it difficult to track GST collections, leaving only headline figures available.

Accordingly, the sudden discontinuation of monthly GST data release has raised eyebrows, with many seeking clarity on the reasons behind this move. As the country marks seven years of GST implementation, the need for transparent and detailed data release remains essential for tracking economic trends and ensuring accountability.