GST collections rebound in December

GST collections rebound in December

In a shot in the arm for the government presenting the Union Budget just next week, India's Goods and Services Taxes (GST) collections rebounded in December with the Centre netting Rs 86,703 crore.

This is higher than Rs 80,808 crore collected in November and Rs 83,347 crore in October.

Besides, one crore taxpayers had been registered under GST so far till January 24 of which 17.11 lakh were composition dealers which are required to file returns every quarter.

At least 56.30 lakh GSTR 3B returns have been filed for the month of December, January, the government said in a statement.

GST collections had declined in November after the GST Council cut rates on more than 200 items. The rebound suggested that compliance is increasing.

The finance ministry officials said they were hopeful of  GST collections picking up in the coming months after the teething troubles disappeared.

The ministry said that a total of 8.10 lakh returns were filed by the composition dealers paying a total of Rs 335.86 crore as GST in July-September quarter. It said for October-December quarter, a total of 9.25 lakh returns were filed by the composition dealers paying a sum of Rs 421.35 crore as GST.

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