Finance Ministry Sets GST Collection Target At Above Rs 1.10 Lakh Crore For Each Of The Next Four Months

In a major development for the economy, the Ministry of Finance's Department of Revenue has set a target to garner a minimum of Rs 1.1 lakh crore as GST collections in each of the successive months left in the ongoing fiscal, reports Asian News International (ANI).

It should also be noted that the Department of Revenue is hopeful to breach the mark of collecting Rs 1.25 lakh crore in one of the remaining four months, which would be Rs 22,000 crore increase over the figure collected in the previous month of November.

Meanwhile, the officials from the Income-Tax department have been directed to meet the target of collecting Rs 13.5 lakh crore. The department has also been instructed that the corporate tax relief to the tune of Rs 1.45 lakh crore will not be entertained as an excuse for lesser direct tax collection target.