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GST collections @ Rs 1 lakh crores

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GST collections @ Rs 1 lakh crores

admin1 November 1, 2018
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In October GST collections recorded a huge increase. Union Finance Minister Arun Jaitley today announced that the GST collection in the last month reached Rs.1lakh crore In September, the gross collection of GST stood at Rs 94,442 crore. After GST, the gross collection of Rs.1lakh this is one lakh crore mark. In April, GST had collected Rs 1.01 lakh crore. Since then, the Rs 90,000 crore has been reached.

GSTC of October 2018 crosses Rs. GST has gained due to the steps taken by the authorities to avoid low interest rates and tax evasion, “Jaitley tweeted. Registering a 6.64 per cent rise in September. The central gST is Rs 16,464 crore in the Rs 1,00,710 crore collected in October, while the GST is Rs 22,826 crores. The combined GST is Rs53,419 crores (including Rs 26,908 crores collected on imports) and Rs 8,000 crores under Sess Including Rs 955 crore).

After the adjustments, the central GST was Rs 17,490 crore, while the state GST was Rs 15,107 crore. The GSTC has been convened 30 times since the IT service tax (GST) has been implemented in the country. Within two years, 918 decisions were taken. To bring relief to consumers from the burden of taxation, some items have been brought into a low tax slab.

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