The collection from the Goods and Services Tax (GST) dipped to a 19-month low in September to ₹91,916 crore. The previous low was ₹85,962 crore, collected in February 2018.
Since GST is a destination-based tax, the current downtrend in consumption is said to have impacted collections.
The mop-up is also below the Budget estimate of ₹1-lakh crore plus. Though the government is expecting consumption to pick up during the second half, it will still find it difficult to meet the fiscal deficit target as direct tax collection continues to be anaemic. Also, the recent announcements on corporate tax reduction will result in revenue foregone of ₹1.45-lakh crore.
Denne historien er fra October 02, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra October 02, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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