Reinforcing the economic recovery trend, goods and services tax collection surpassed the Rs 1-trillion mark for the second consecutive month in November, according to the official data. Although slightly lower than the previous month, the robust mop-up could be attributed to the festival season demand, experts said, cautioning that this might not be sustainable in the coming months.
GST collection stood at Rs 1.049 trillion in November, as against Rs 1.051 trillion in October, the data released by the finance ministry on Tuesday showed. This is also the third straight month when GST collection rose year-on-year (YoY), indicating the reinstatement of normalcy in economic activity after months of disruption caused by the Covid-19 lockdown.
The November collection was 1.42 per cent higher than that in the same month a year ago, down from 10.25 per cent YoY growth in October and 3.87 per cent in September. These