Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Nepal protests
  • Nepal Protests Live
  • Vice-presidential elections
  • iPhone 17
  • IND vs PAK cricket
  • Israel-Hamas war
fp-logo
GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row

GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row

Press Trust of India • November 1, 2019, 19:41:54 IST
Whatsapp Facebook Twitter

The Goods and Services Tax (GST) collection in October declined to Rs 95,380 crore, as against Rs 1,00,710 crore in the same month a year ago, as per government data released on Friday

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
GST collections remain subdued at Rs 95,380 cr in October; mop-up below Rs 1 lakh cr-mark for third month in a row

New Delhi: The Goods and Services Tax (GST) collections came in at Rs 95,380 crore in October, down 5.29 percent 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.

#GST | October GST collection at Rs 95,380 cr vs Rs 1 lk cr (YoY) & vs Rs 91,916 cr (MoM) pic.twitter.com/4cownM76t5

— CNBC-TV18 (@CNBCTV18Live) November 1, 2019

“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. A total number of GSTR 3B returns (summary of self-assessed return) filed for the month of September (up to 30 October) was 73.83 lakh. [caption id=“attachment_4369575” align=“alignleft” width=“380”]GST. Representational image. Reuters. GST. Representational image. Reuters.[/caption] 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 an economic slowdown. This lower GST collection is a result of a major chunk of offline sales shifting to the e-commerce companies which recently concluded their festive season sales, it alleged. “Since these companies by flouting the FDI policy are indulging in deep discounting and predatory pricing policies, they have an expertise in avoiding GST and causing a severe loss of revenue to the government,” CAIT said. Vishal Raheja, DGM, Taxmann said that weak demand, low GDP growth rate and decline in industrial output could be the reasons for the decrease in GST revenue in October. He added that GST collection in October has increased by 3.78 percent as compared to September. The rise, he said, could be due to early festival season. “Recently, the government has also taken various fiscal measures to boost the 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. “The next month’s collections, which will cover the festive period, will provide critical cues as to the extent of slippage that we could expect in the GST collections in FY2020 relative to the budgeted target,” she added. GST was introduced from 1 July, 2017.

Tags
NewsTracker Government Goods and Services Tax GST GST collections GST revenue
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

Tata Harrier EV vs Mahindra XEV 9e: Design and road presence compared

The Tata Harrier EV and Mahindra XEV 9e are new electric SUVs in India. The Harrier EV has a modern, familiar design, while the XEV 9e features a bold, striking look. They cater to different preferences: the Harrier EV for subtle elegance and the XEV 9e for expressive ruggedness.

More Impact Shorts

Top Stories

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV