GST collections below Rs 1-trillion mark for a third straight month in Oct

Goods and services tax (GST) collection remained below Rs 1 trillion for the third straight month in October. 

It was 5.3 per cent lower than in the corresponding period last year, the steepest fall in the first seven months of the current financial year, indicated rising weakness in consumer demand.

Collection stood at Rs 95,380 crore in October, slightly higher than the Rs 91,916 crore in the previous month, when it fell to a 19-month low, the finance ministry data showed on Friday. 

October was the second month when the collection declined year-on-year. In September, it was down 2.7 per cent. 

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