The collections are lower than the Rs 83,346 cr in October and way below the average target of Rs 91,000 cr a month.
Budget 2018 Updates : In continuance with the slide, the mop-up under the goods and services tax (GST) in November fell to just above Rs 80,000 crore – a decline that could be attributed to the rate reduction for more than 200 items in the same month and the use of the integrated GST (IGST) as credit for paying taxes.
This will heighten the Centre’s fiscal concerns ahead of the Union Budget, dashing hopes of any further reduction in rates in the near future.
“The collection under the GST for November has been Rs 80,808 crore till December 25, 2017,” the government said in a release on Tuesday. The collections are lower than the Rs 83,346 crore in October and way below the average target of Rs 91,000 crore a month.
Experts say the GST collections will decline also in December and stabilise from January.
The slowdown has prompted the GST Council, in its meeting on December 16, to do a nation-wide roll-out of the electronic way bill on June 1 next year to plug revenue leakages and tighten enforcement.
The roll-out for inter-state movements of goods has been advanced to February 1 from April 1 decided earlier. As many as 5.31 million assessees filed returns for November (till December 25) out of the 8.24 million registered. The number does not include those under the composition scheme. Besides, those with an annual turnover of up to Rs 1.5 crore are allowed to file quarterly returns.
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