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Revenue collection under GST increased.

New Delhi: In February, revenue collection under the Goods and Services Tax (GST) increased by Rs 1,217 crore to Rs 89,264 crore as per the month-end figures, Finance Secretary Hasmukh Adhia said.

The Finance Ministry released initial figures of the GST collection for February which showed a decline in revenue by Rs 1,144 crore compared to January. The data then showed that February collection was Rs 85,174 crore. Adhia said the figures are usually released between the 24th and 26th of every month, but the end-month figures end up a few thousand crore rupees higher than the initial figures.

He said, "GST collection for February (collected in March) stand at Rs 89,264 crore showing an upswing in revenue collection trends. Now we are approaching the Rs 90,000 crore mark." As per the figures released by the government, the GST collection for January stood at Rs 88,047 crore. In December, it was Rs 88,929 crore.

Noting that February was a 28-day month, Adhia attributed the upswing in collections to increased compliance and the end of the financial year when people like to clear their dues. "GST collections will pick up further as compliance requirements are enforced like the rollout of the e-way bill from this month."

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Apr 8, 2018
Words:213
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