The finance ministry expects the GST collections to cross Rs 1 lakh crore in November and December on account of festive season demand and the anti-evasion measures initiated by the revenue department. The Goods and Services Tax (GST) revenue rose to Rs 94,442 crore in September and officials feel it could surpass the landmark one lakh crore on increased demand during festival season.
“With the current trend for GST mop-up, it is expected that the monthly collections could again touch Rs 1 lakh crore around November and December,” an official said. The collections during November and December 2018 would reflect the sales and purchases made during the months of October and November 2018.
According to the official, people usually hold back their purchases till Ganesh Chaturthi, which marks the onset of festive season and fell in September this year. Besides, the revenue department’s initiative to plug loopholes in the system to curb evasion too would help in raising revenue.