GST collections likely to top Rs 1 lakh crore in Nov, Dec

GST collections likely to top Rs 1 lakh crore in Nov, Dec

The finance ministry expects the GST collections to cross Rs 1 lakh crore in November and December on account of festive season demand and the anti-evasion measures initiated by the revenue department. The GST revenue rose to Rs 94,442 crore in September. According to a GST official, the transactions are expected to witness a surge starting the Ganesh Chaturthi, which marks the beginning of the festive season and fell in September this year. Besides, the revenue department’s initiative to plug loopholes in the system to curb evasion too would help in raising revenue. The collections during November and December 2018 would reflect the sales and purchases made during the months of October and November 2018 respectively.

Read More at Livemint News date : 3 Oct 2018, Wednesday

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