GST collections dip below Rs 1 lakh crore in August

In an apparent sign of economic slowdown, India's GST collections in August dropped to Rs 98,202 crore from over Rs 1.02 lakh crore in the previous month, the finance ministry said on Sunday.

However, total Goods and Services Tax (GST) mop-up for August was 4.5 per cent higher than the Rs 93,960 crore collected in the same month last year.

This is the second time that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore.

However, it was Rs 1.02 lakh crore in July.

Central GST collections stood at Rs 17,733 crore, State GST Rs 24,239 crore, and Integrated GST Rs 48,958 crore (including Rs 24,818 crore collected on imports) during August, a statement said.

It further said that cess collection stood at Rs 7,273 crore (including Rs 841 crore collected on imports).