GST mop-up jumps 15% to `2.03 lakh crore in September

Gross GST collections rose 14.7 per cent in September to over `2.03 lakh crore, aided by domestic consumption and strong growth in revenues from imports, according to Government data.
Gross GST collections from domestic activities rose 10.1 per cent to about `1.38 lakh crore, while revenues from imports were up 26 per cent to `65,525 crore, the data showed. Goods and Services Tax (GST) refunds, however, slowed to Rs 27,001 crore in September, a decline of 3 per cent year on year.

After adjusting for refunds, net GST collections rose 18.1 per cent to over `1.76 lakh crore in September. This is the third month in the current fiscal year when GST collections have crossed ` 2 lakh crore. Earlier in April and July, the GST revenues had touched record highs of about `2.43 lakh crore and over `2.11 lakh crore, respectively. During the first half of the fiscal (April-September), gross GST collections grew 11.6 per cent to over `12.46 lakh crore. Net collections rose 10.4 per cent to over `10.66 lakh crore.

EY India Tax Partner Saurabh Agarwal, said the Rs 2 lakh crore mark in gross GST collections, with growth of close to 15 per cent, shows that domestic demand continues to do well in spite of global pressure.  The growth in the tax mop-up is broad based with Uttar Pradesh, Telangana, Gujarat and Karnataka each up 16 per cent to 18 per cent. Assam, Manipur, Arunachal Pradesh and Nagaland have done considerable growth, which showcases holistic development across the country, Agarwal added.

Grant Thornton Bharat Partner and Tax Controversy Management Leader, Manoj Mishra said the sharp 25.9 per cent growth in import-linked GST in September, compared with around 10 per cent growth in domestic GST, reflects a combination of currency, commodity prices and import dynamics.