Rs 1.05 lakh crore: GST collections up again, now at 8-month high

In October 2019, GST revenues had contracted by 5.29 per cent to Rs 95,380 crore, marking the third instance of a contraction since the July 2017 rollout of the GST regime.

CONTINUING TO post a year-on-year increase for the second month in a row, gross Goods and Services Tax (GST) collections rose 10.2 per cent to an eight-month high of Rs 1.05 lakh crore in October, for sales in September.

An uptick in economic activity with the easing of Covid restrictions, along with a low base effect and a September 30 deadline for claiming input tax credit and reconciliation for businesses for 2019-20, were the key factors for the rise in revenues under…