GST Rate Rationalisation Boosts Tax Collection Despite Lower Rates
India's GST collections have risen to an average of Rs 1.1 lakh crore monthly, up from Rs 1.01 lakh crore, following a rate overhaul. Despite a drop in the average tax rate from 14.4% to 12.8%, increased consumption in sectors like precious metals and vehicles has boosted tax revenue, demonstrating a successful policy shift towards consumer burden reduction.