GST Collections Cross Rs. 1 Lakh Crore In January : FM

The government said on Thursday that GST or Goods and Services Tax collections crossed Rs. 1 lakh crore in January.

The Ministry of Finance said that the increase has been achieved despite various tax relief measures implemented by the GST Council to lower the tax burden on the consumers.

The government had earlier this month ruled out any further cuts in GST rates until revenue collections improve. The statement on monthly GST collections comes a day before presentation of the Interim Budget in Parliament.

“Final figures and details of collections for the entire month will be intimated on 2nd February, 2019,” it said on microblogging website Twitter.

The Goods and Services Tax (GST) collection stood at Rs. 1.03 lakh crore in April, Rs. 94,016 crore in May, Rs. 95,610 crore in June, Rs. 96,483 crore in July, Rs.93,960 crore in August, Rs. 94,442 crore in September, Rs. 1,00,710 crore in October and Rs. 97,637 crore in November.

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