Despite the upcoming festive season, the Goods and Services Tax (GST) collections have dropped to a 19-month low of Rs. 91,916 crore in September. The low GST collections have reflected the economic slowdown triggered by very low consumer demand.
According to an official statement by Ministry of Finance, “The total gross GST revenue collected in the month of September, 2019 was Rs. 91,916 crore of which Central GST (CGST) was Rs. 16,630 crore, State GST (SGST) was Rs. 22,598 crore, Integrated GST (IGST) was 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).”
It may be mentioned here that this is the second straight month of a drop in GST collections. The GST collection in September was lower than Rs. 98,202 crore that was collected in August and Rs. 94,442 crore collected in September last year.