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 cr for CGST and Rs 37,645 cr for SGST.
“Recently, government has also taken various fiscal measures to boost economy and it will surely help to raise revenue collections. The government might consider implementing the strict measures such as audit, surveys etc. to curb the GST evasion and to eventually increase the tax collection,” Raheja added.
Aditi Nayar, an economist with ICRA, said the year-on-year decline in the GST collection in October is disturbing, although it can partly be explained by the cumulative impact of GST rate cuts as well as subdued consumption growth.