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For the first time since April, the collection of Goods and Services Tax (GST) for a single month has exceeded Rs.1,000 billion.
"The GST collections of October 2018 have RK 1000 000. The success of the GST results in lower rates, less fraud, stricter compliance, a single tax, and negligible interference by the tax authorities, "said Finance Minister Arun Jaitley. in a tweet.
The GST collections of October 2018 exceeded the RS. 1 lakh crore. The success of the GST results in lower rates, lesser fraud, increased compliance, a single tax, and negligible interference by the tax authorities.
– Arun Jaitley (@arunjaitley) November 1, 2018
After reaching the trillion dollar mark for the first time in April 2018, the GST collections had missed the target for five consecutive months.
The collections were at Rs 940.16 billion in May, 956.10 billion in June, 964.83 billion in July, 939.60 billion in August and 944.42 billion in September
The Ministry of Finance set the monthly collection of GST at Rs. 1 trillion for this budget. 19659002] Reduction of the GST rate on a range of products as of July 27th, which would probably have resulted in lower figures.
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