Economy

Central GST collection at ₹3.26 lakh crore in FY20

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Direct tax mop-up below half-way mark

The Central GST collection so far this fiscal stood at ₹3.26 lakh crore, or about half of the government’s target for 2019-20, Parliament was informed on Monday.

“The Budget Estimates for Central Goods and Services Tax (GST) for 2019-20 has been fixed at ₹6,63,343 crore.

“The actual net GST collection for the Centre till October 2019 in current fiscal year is ₹3,26,490 crore,” Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha.

He said the shortfall or excess in the collection of GST with respect to Budget Estimates, if any, is calculated after completion of financial year.

Shortfall in collections

The Minister was responding to a question on details of the shortfall in GST collection until October this fiscal against the Budgetary projections.

On direct taxes, the Minister said that for 2019-20, the Budget Estimate was ₹13,35,000 crore. Between April-October, 2019, the net collection of direct taxes was ₹5,18,084 crore.

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Printable version | Dec 6, 2019 2:08:00 AM | https://www.thehindu.com/business/Economy/central-gst-collection-at-326-lakh-crore-in-fy20/article30079726.ece

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