It is the third month in a row when the GST was below the Rs 1 lakh crore.
In October GST collection remained below Rs 1 lakh crore despite improved festive demand. In October, GST collection increased to Rs 95,380 crore compared to Rs 91,916 crore in September but was still 5.29 percent below the Rs 1 lakh crore collected in the same month last year. This is another month in a row when GST mop-up is lower than Rs 1 lakh crore. Hit by a slowdown in consumption, tax collections were diminished in recent months.
This is the third consecutive month when GST mop-up was below the crore mark Rs1 lakh, despite the festive month of October.
After February 2018, the GST collection fell to its lowest.
According to government data, the central collection of GSTs was in Rs 17,582 vs Rs 16,630 crore in September, while that of SGST was in Rs 23,674 crore, IGST was in Rs 46,517 crore (including Rs 21,446 import crore) and in Rs 7,607 crore (inclusive of Rs 774 import crore).
In August, the tax mop was Rs 98,202 crore.
In a festival month, the GST collection did not improve clearly shows that everything is not good in the economy.