GST mop-up less than Rs 1 trillion in August; Council to meet this month

This was the second month in the current fiscal year that the collections could not hit the Rs 1-trillion mark, the first being June

Goods and services tax (GST) collections failed to touch Rs 1 trillion in August, which experts say may guide the Centre and states on rate cut demands from slowing segments of the economy at their meeting later this month. 

The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
 

This was the second month in the current fiscal