Net goods and services tax (GST) collection fell 9.2 per cent to ₹1.5 trillion in August from 1.65 trillion in the previous month, particularly due to increased refunds.
Even compared to the same month last year, net receipts growth slowed to 6.5 per cent in August compared to 14.4 per cent in July, according to provisional data released by the government on Sunday.
The gross collection, which is the number before adjusting refunds, stood at ₹1.75 trillion in August, with growth tapering slightly to 10 per cent Y-o-Y from 10.3 per cent in the previous month. Gross revenue stood at 1.82 trillion in July 2024. In July and August 2023, it came in at 1.66 trillion and ₹1.59 trillion, respectively. So far in the current financial year (FY25), the total GST collection has been 10.1 per cent higher at ₹9.13 trillion, against 8.29 trillion collected in the corresponding period of 2023. The August figures capture goods and services transactions related to July.
Holding out hope
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TRUTH BE TOLD
