RBI Grade BNABARD ESISEBI
- GST collection in November fell to ₹1.82 lakh crore from ₹1.87 lakh crore in October.
- Compared with the same period the previous fiscal, it is higher by 8.5%
- Experts interpreted the same differently. According to some people, it depicts a slowdown in the consumption cycle while others said there has been double-digit growth in domestic collection, hinting at consumption.
- Domestic collection has risen over 9% from the GST portal, while import collection has risen 5.9% and 6.3% respectively.
- The December 21 meeting of the GST Council is likely to recommend measures to boost collection.
- Domestic GST revenue growth of 10%+ in FY25 supports GDP data, indicating increased domestic consumption.
- “Income tax numbers are different, and GST numbers are dichotomous,” states Vivek Jalan, partner at Tax Connect Advisory Services LLP, adding that in this comparison YTD direct tax collections did better by growing more than 15% while on the other hand, it grew 9.3%.
