Statistics ministry seeks GST data to improve national accounts

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The statistics ministry has sought quarterly goods and services tax (GST) data and information on tax paying units to improve the quality of both National Accounts Statistics and state-level accounts. The ministry of statistics and programme implementation (MoSPI) has reached out to the finance ministry for GST data on tax collections along with summary information on units, classification-wise, that have paid taxes for use in compilation of national and state-level accounts, officials familiar with the development told ET.

“We have asked finance ministry for GST data on output, input and revenue,” said an official. “They are aware of our request but are waiting for the GST data and system to stabilise.” Independent economists said the move will make proxies cleaner, reduce data collection costs and help obtain higher quality statistical data.

Read More at: https://economictimes.indiatimes.com/news/economy/finance/statistics-ministry-seeks-gst-data-to-improve-national-accounts/articleshow/66278200.cms

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