India’s goods and services tax (GST) revenues rose 9.1% year-on-year to Rs 1.89 lakh crore in September, Reuters reported citing government data.In August, Gross GST collections had stood at Rs 1.86 lakh crore, reflecting a 6.5% rise from Rs 1.75 lakh crore in the same month last year. Net collections for August were Rs 1.67 lakh crore, up 10.7% year-on-year.In July, net revenues had moderated to Rs 1.68 lakh crore, largely due to a higher volume of refunds issued during the month.Abhishek Jain, Indirect Tax Head&Partner, KPMG says “It is heartening to see consistent growth in GST collections, especially when some stagnancy was expected due to postponed sales in the second fortnight of August following the announcement on GST rate rationalisation by PM on Aug 15. Another significant aspect is that this growth has continued despite the discontinuation of GST revenue from online money gaming businesses.”(Developing story)
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