At Rs 939.6 billion, GST collection in August is fiscal's lowest

The government attributed the dip in collections to the probable postponement of purchase for items for which the tax rates were reduced by the GST council

Goods and services tax (GST) collection plummeted to the lowest in the current fiscal year in August as consumers deferred purchase of over 100 items in July (post-rate reduction). The revenue mop-up stood at Rs 939.6 billion in August, a tad lower than the Rs 964.8 billion in the previous month, according to data released by the ministry of finance on Saturday. The collections are expected to slide further in September when the full impact of  the rate cut comes through. The mop up stayed well below the government’s target of Rs 1 trillion for the fourth month in succession