The government’s goods and services tax collections for the month of September hit a rock bottom, declining to their lowest in 19 months.The September, 2019 GST collections stood at Rs 91,916 crore. The last record low was in February 2018 when the GST revenue was at Rs 85,174 crore. In September, 2018, collections were at Rs 94,442 crore.”The revenue during September, 2019 is declined by 2.67 per cent in comparison to the revenue during September, 2018,” a PIB release noted.Of the total GST revenue collected in September 2019, the Central GST revenue was Rs 16,630 crore, the state GST was Rs 22,598 crore, and the Integrated GST was Rs 45,069 crore. The cess collected during the period under review was Rs 7,628 crore. The total number of monthly summary returns for the month of August up to 30th September is 75.94 lakh. “With the recently announced fiscal and economic measures coupled with the upcoming festive season, the demand and related GST collections may witness an increase in the coming months, commented Abhishek Jain, Tax Partner, EY. Stricter controls on tax evasion and audits by the revenue authorities may also help in improving the collections, Jain added. According to a TOI… Read full this story
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