October GST collections cross Rs 1 lakh crore

The government was hopeful that it could surpass the landmark of Rs 1 lakh crore at the end of the year due to the festive season

Published: Nov 1, 2018
October GST collections cross Rs 1 lakh crore Image: Shutterstock

Moneycontrol News

Goods and Services Tax (GST) collections topped Rs 1 lakh crore in October. In a tweet, Finance Minister Jaitley attributed the success of GST to lower rates, lesser tax evasion and higher compliance by honest taxpayers and negligible interference by the taxation authorities.





The GST revenue rose to Rs 94,442 crore in September and the government was hopeful that it could surpass the landmark of Rs 1 lakh crore in the following months due to the festive season.

The collections have crossed this level once in March 2018 at Rs 1,03,000 crore, following which the figure has remained above Rs 90,000 crore.

The collections stood at Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August and Rs 94,442 crore in September.

Original Source: https://www.moneycontrol.com/news/business/october-gst-collections-cross-rs-1-lakh-crore-3116481.html

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