FY19 closes on a happy note with record GST collections at Rs 1.06 trillion

Together with direct taxes, it may help the Centre move closer to the fiscal deficit target

The financial year 2018-19 (FY19) ended on a happy note on the goods and services tax (GST) front. At Rs 1.06 trillion, the government has announced the highest monthly collection from GST in March since its roll-out 21 months ago. 

This is the fourth time in FY19 that the monthly GST collection has crossed the Rs 1-trillion mark, meeting the target. 

With this, the total GST collected during the year has touched Rs 11.77 trillion, still nearly Rs 75,000 crore short of the initial annual expectation. 

Even so, the GST mop-up, together with the direct tax collection of Rs 11.5 trillion (against a