Wednesday (January 1): For a second time in a row, the GST revenue collection remained above the Rs 1 lakh crore mark with December mop-up at Rs 1.03 lakh crore indicating a pick-up in consumption.
GST collection in November stood at Rs 1,03,492 crore. Before that it was in July when the mop-up crossed the Rs 1 lakh crore mark at Rs 1.02 lakh crore.
The GST collection stood at Rs 94,726 crore in December 2018, as per an official statement.
According to official sources, the GST revenue last month reflects a pick-up in consumption and improvement in compliances.
“The GST revenue during the month of December 2019 from domestic transactions has shown an impressive growth of 16 per cent over the revenue during the month of December 2018,” the statement said.
If we consider Integrated Goods and Service Tax (IGST) collected from imports, the total revenue during December 2019 has increased 9 per cent in comparison to the revenue same month a year ago, it said.
During December 2019, it said, the IGST on import of goods has seen a negative growth of 10 per cent, but is an improvement over 13 per cent de-growth in November, it added.