New Delhi: India’s items and providers tax (GST) collections rose 10% year-on-year to ₹1.64 lakh crore in December, official knowledge launched Monday confirmed. That is down from ₹1.68 lakh crore in November and up from ₹1.49 lakh crore in the identical month the 12 months earlier than.
Consultants mentioned the double-digit development in collections mirrored the underlying financial momentum and the month-to-month moderation was attributable to holidays and the bottom impact.
“The sequential dip within the headline GST collections between November and December displays the affect of the vacations associated to the festive season, as GST is remitted within the subsequent month,” mentioned Aditi Nayar, chief economist, ICRA. “The moderation within the tempo of development of GST collections displays the bottom impact.”
Gross GST income crossed ₹1.60 lakh crore for the seventh month in a row with the typical month-to-month mopup at ₹1.66 lakh crore for the fiscal 12 months.
