Revenue Generation through Implementation of Gst In India: A Tax Resilience Approach
The Government of India expects tax collection to increase into the double digits once again. Despite it having met its optimistic expectations in recent years, the government's prediction this time could not be too far-fetched. However, according to Forecast 2021, the total tax collection forecast for 2020-21 was reduced to Rs 19 lakh crore from Rs 21.6 lakh crore declared in the previous bill. Nonetheless, the government estimates a 16.6% growth in total tax collection to Rs
22.17 lakh crore in the fiscal year 2021-22. The updated forecast for net government revenue for FY22 is Rs 15.45 lakh crore, similar to Rs 13.44 lakh crore for FY21. This is also a 14.9 percent increase from the 8.7 percent growth forecasted last year.
This current paper focuses on various aspects of the Central Government of India on Revenue Generation through Implementation of GST in India, a model as an Tax Resilience Approach.