GST collection at over ₹1 lakh crore for 3 months, hits 5 month high

Goods and services tax (GST) collections in September has clocked in at Rs 1.17 lakh crore, marking the third straight month above the Rs 1 lakh crore mark. The mop-up which reflects the sales in August, is the fourth-highest collection since the launch of GST on July 1, 2017 and also a five-month high signalling a pick-up in the economy.

“This clearly indicates that the economy is recovering at a fast pace. Coupled with economic growth, anti-evasion activities, especially action against fake billers, have also been contributing to the enhanced GST collections. It is expected that the positive trend in the revenues will continue and the second half of the year will post higher revenues,” the Finance Ministry said in a statement.

This takes the total GST collection for the first half of fiscal year 2021-22 (April-September) to Rs 6.82 lakh crore. The GST bills are likely to see further pick up as we head into festive season.