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News GST

  • Nov 02, 2018
  • GST collection crosses Rs 1 lakh crore for second time since launch

    Monthly goods and services tax (GST) collections breached the Rs 1-lakh-crore mark for the second time since its launch in July last year for September (collected in October), giving the Centre some hope that the wide revenue gap against its budget target could be narrowed in the second half of the fiscal. While the latest figure is about 4% higher than the average of the first seven months of the fiscal and analysts said it may have reflected the tax’s stabilisation and increased compliance due to anti-evasion steps like e-way bill, the fact that September was the deadline for final settlement of last year’s tax liabilities might have also boosted collections. It remains to be seen if the latest spurt heralded a sustainable trend.