The Government has some reason to cheer as the collections from customs duty and IGST from imports has almost doubled to Rs 30,000 crore in just one month post implementation of Goods and Services Tax (GST).
GST, which subsumed more than a dozen Central and State levies like excise duty, service tax and VAT, was implemented from July 1. The revenue collected include those on account of customs duty, Integrated-GST (IGST) from imports, countervailing duty (CVD), special addition duty (SAD) and cess collection on imported items.
“The collections from customs duty and IGST from imports post implementation of GST has almost doubled to Rs 30,000 crore in July,” said a senior Government official.