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GST collection may see a hit in September-October, but expect strong rebound soon
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Business Line - Home
As consumers postponed purchases in August after Prime Minister Narendra Modi announced goods and services tax (GST) rate cuts, GST collection in September is expected to take a hit, data for which will be out on October 1.
Gross GST collection in April to August period has been over ₹10 lakh crore showing a growth of nearly 10 per cent.
However, post-refund net collection reached ₹8.78 lakh crore with a growth of around 9 per cent.
This led to deferment of purchase and resulted in lower growth of over all sales.
It may be noted that automobile has a major share in GST collection.