The collection of Goods and Services Tax (GST) dropped to ₹94,726 crore in December 2018, lower than November (₹97,637) month collection.
According to the Ministry of finance, the collection of Goods and Services Tax (GST) dropped to ₹94,726 crore in December 2018, lower than November (₹97,637) month collection.
This is the second repeated month that the GST collection has tumbled.
The over-all figure of sales returns or GSTR-3B filed till December 2018, is 72.44 lakh whereas returns filled in November was 69.6 lakh.
Goods and services are divided into five tax slabs for collection of tax – 0%, 5%, 12%,18% and 28%.
However, Petroleum products, alcoholic drinks, electricity, are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax regime.
The GST came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government.
The tax replaced existing multiple flowing taxes imposed by the central and state governments.
