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GST collections down 5.29% in Oct
The Goods and Services Tax (GST) collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 crore in the same month last year, as per government data released on Friday.
New Delhi: The Goods and Services Tax (GST) collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 crore in the same month last year, as per government data released on Friday.
This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, despite the festival season. Revenue collection from GST in September stood at Rs 91,916 crore.
"The gross GST revenue collected in the month of October, 2019 is Rs 95,380 crore of which CGST is Rs 17,582 crore, SGST is Rs 23,674 crore, IGST is Rs 46,517 crore (including Rs 21,446 crore collected on imports) and Cess is Rs 7,607 crore (including Rs 774 crore collected on imports)," the finance ministry said in a statement.
Total number of GSTR 3B returns (summary of self-assessed return) filed for the month of September (up to October 30) was 73.83 lakh.
The total revenue earned by the central and the state governments after regular settlement in October was Rs 38,224 crore for CGST and Rs 37,645 crore for SGST.
Commenting on the data, traders' body CAIT said lower tax collections should not be assumed to be an indicator of economic slowdown.
