Even as the government takes a hit on revenue due to the recent excise and custom duty cuts on fuel and certain commodities, going by the preliminary indicators, revenue receipts in FY’2022-23 may exceed the budget estimates on strong GST collection for the year. The collections have already started trickling in. “So far it is good. On the indirect taxes front, there has been a sacrifice in excise and customs duty that has happened" said revenue secretary. " But on the GST front we have been doing pretty well. GST will take a lot of load of what sacrifice we have done on excise and customs duty front”.
