Goods and Services Tax – GST Dated:- 1-10-2020 – News – New Delhi, Oct 1 (PTI) – The country's GST collections grew 4 per cent to a high of ₹ 95,480 crore in September, indicating that economic recovery is in sight. Goods and Services Tax (GST) mop-up in September 2019 stood at ₹ 91,916 crore. The Finance Ministry in a statement said the gross GST revenue collected in September 2020 is ₹ 95,480 crore, out of which Central GST is ₹ 17,741 crore, State GST is ₹ 23,131 crore, Integrated GST is ₹ 47,484 crore (including ₹ 22,442 crore collected on import of goods) and cess is ₹ 7,124 crore (including ₹ 788 crore collected on import of goods). In September 2020, the tax col
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ction is an encouraging sign for the economy. It is expected that the revenue collection should continue to improve as we approach the festive season . Deloitte India Senior Director M S Mani said a modest increase of 4 per cent in the GST collections compared to the previous year indicates that the economic recovery process is underway, with some key large states also reporting increased collections. If the present trends of GST collections continue, we should be hopeful of significant increases in the coming months based on the unlockdown steps taken in various states and the festival season ahead, Mani added. EY Tax Partner Abhishek Jain said with a significant part of the economy resuming operations and international trade ga
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