Updated: October 1, 2019 9:11:08 pm
Amid the slump in the economic activity, the Goods and Services Tax collection in September declined to Rs 91,916 crore, as against Rs 98,202 crore in the preceding month. The revenue collection in the same month, a year ago, stood at Rs 94,442 crore. The figures were released by the government on Tuesday.
“The total gross GST revenue collected in the month of September 2019 is Rs 91,916 crore of which CGST is Rs 16,630 crore, SGST is Rs 22,598 crore, IGST is Rs 45,069 crore (including Rs 22,097 crore collected on imports) and cess is Rs 7,620 crore (including Rs 728 crore collected on imports),” the Finance Ministry said in a release.
Meanwhile, during the April-September period, the domestic component has grown by 7.82 per cent, while the GST on imports has shown negative growth and the total collection has grown by 4.90 per cent, the release added.
Earlier, the collections had dropped to Rs 98,202 crore in August from over Rs 1.02 lakh crore in July 2019. This is the third time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore. However, it was Rs 1.02 lakh crore in July.
GST was India’s biggest reform in indirect tax structure which introduced a single tax on the supply of goods and services, from the manufacturing stage until its delivery to the final consumer. The final consumer of the goods and/or services only have to bear the GST charged by the final dealer in the supply chain, and avail set-off benefits at all the previous stages. This means interim tax stages such as excise duties and service tax and state levies like VAT are absorbed under GST.
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