Sitharaman reduces FY20 GST collection estimate by 13% to Rs 6.63 trillion

Sitharaman slashes FY20 forecasts by 13% from Goyal's February Budget Estimates

Finance Minister Nirmala Sitharaman has substantially lowered her projections for goods and services tax (GST) collections in the Budget for 2019-20 (FY20), against the interim Budget Piyush Goyal presented in February. 

In a span of five months, the GST mop-up for FY20 has been reduced by around 13 per cent to Rs 6.63 trillion in Sitharaman’s Budget, against Rs 7.6 trillion estimated by Goyal. 

The collection target was cut despite the fact that the first two months of the current fiscal year yielded over Rs 1 trillion and the third month — June — delivered close to Rs 1 trillion.