This is a roundup of the day’s top stories in brief.
1. GST Collections At Six-Month High
The government’s goods and services tax collection rose to the highest in six months as the nation continued to ease lockdown restrictions to revive an economy that’s headed for the first full-year contraction in four decades.
GST collections for August, collected in September, stood at Rs 95,480 crore, according to a statement from the Ministry of Finance.
That was 10% higher than July and 4% more than the year-ago period.
August’s collections include the tax paid by small businesses with turnover of up to Rs 5 crore for May, June and July as the due date was extended till Sept. 15, Sept. 25 and Sept. 29, respectively.
Find out more about the breakup of GST collections for August.