BUSINESS/GST collection drops to Rs91916 crore in September

Gross GST collection in September is Rs 91916 crore-the lowest in 9 months. This September collection is also less than that of September last year. In September 2018, GST contribution to state coffer was Rs 94442 crore.  As far as month wise comparison with the previous year is concerned, GST performed lowly first time in September.

In August 2019, GST collection was Rs 98202 crore against Rs 93960crore in August last year. In July the tally read Rs 102083crore and Rs 96483 crore. This fiscal year began with an outstanding collection of Rs 113865 crore in April compared to Rs103469 crore in April 2018. Subsequently, GST collections were Rs 100289crore and Rs99939crore in May and June respectively against Rs 94016 crore and Rs 95620 crore of their corresponding months.

The sharp fall in GST collection in September is another indication of the worrisome economic health of India. However, GST collection in the first half of this fiscal is growing at 4.9 percent over it in the first half of the last fiscal.

The revenue during September 2019 is declined by 2.67 percent in comparison to the revenue during September 2018. During April-September, 2019 vis-à-vis 2018, the domestic component has grown by 7.8percent while the GST on imports has shown negative growth, and the total collection has grown by 4.90percent.

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