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October GST collections slip to Rs 83,346 crore from Rs 92,000 crore in Sep


October GST collections slip to Rs 83,346 crore from Rs 92,000 crore in Sep

New Delhi, Nov 28 (ANI): The latest GST collections figures show a significant 10 percent decline in India's goods and services tax collections. The GST collections in October fell to Rs 83,346 crore from more than Rs 92,000 crore September.

"95.9 lakh taxpayers have been registered under GST so far, of which 15.1 lakh are composition dealers who are required to file returns every quarter," the government said in a release. "50.1 lakh returns have been filed for the month of October till 26th November 2017." The Centre held several factors responsible for the drop, including additional Integrated GST (IGST) collections in July, August, and September.

Other factors include the reduction in tax rates on some items and lower compliance. With more wide-ranging rate reductions to be implemented in November, collections may decline further in the coming months.

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