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GST collection drops in August

As the country is facing a serious economic slowdown and heading towards a recession, the GST collection has dropped in the last month. The Goods and Service Tax revenue of August has slipped below Rs.1 trillion to Rs.98,202 crore.

In the July the GST revenue was Rs.1.02 trillion. But when compared with the GST revenue of August 2018, this year’s revenue was up by 4.5%. In August 2018, Rs.93,960 was the GST revenue.

This is second time that the GST revenue is falling under 1 trillion mark. The GSt collection has gone below 1 trillion in June this year with a collection of Rs.99,939 crore.

As per government data, the Central GST stood at Rs.17,733 crore, State GST was Rs.24,239 crore and Integrated GST was Rs.48,958 crore during the last month.

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