The Gross Goods and Services Tax (GST) collections declined to a three-month low of Rs 1.64 lakh crore in December (for sales in November), data released by the Finance Ministry on Monday showed. Though year-on-year growth of 10.3 per cent was registered in December, the pace of growth in GST collections was also the slowest in three months.
Earlier, a pickup in consumption and economic activity along with settlement of disputes by businesses following notices issued by GST authorities were seen to have contributed to the sharp rise in GST revenue, which has now moderated despite early-November having marked the festival season. The impact of lower imports is likely to have contributed to the decline in GST revenues. GST collections had surged 15.1 per cent to Rs 1.67 lakh crore in November and 13.4 per cent in October at Rs 1.72 lakh crore, the second-highest level since the July 2017 rollout of the indirect tax regime.
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