Post rate cuts, GST collection for Oct dips to Rs 83,346 cr from 5 mn biz

5 mn returns have been filed for the month of October till 26th Nov

Total GST collections slipped almost 10% to Rs 83,346 crore for October as tax rates on several product were cut and teething troubles with the new regime pushed back implementation of key provisions.

As many as 5 million Goods and Services Tax (GST) returns filed for October resulted in a revenue of Rs 83,346 crore, down from over Rs 92,000 crore in the previous month, a finance ministry statement said.

It attributed the drop in collections to rates on several commodities being cut and tax administration being based on self-declaration as matching of returns, electronic transit permit system or e-way