New Delhi: In a monthly collection of GST, the government on Sunday witnessed a lower tax mop-up of below Rs 1-lakh crore in the month of August this year as compared to the collections received in the previous month.
According to official data released by Department of Revenue, country's gross revenue from GST collections slipped below Rs 1-lakh crore to Rs 98,202 crore in August, while in July it stood at Rs 1.02 lakh crore. With a lower GST mop-up this month, the officials are of view that the government finances may undergo severe pressure to meet fiscal target. "The lower tax collections may increase burden on the Centre for compensating states for revenue shortfall, thereby making difficult to meet the fiscal targets," said an official.
However, the year on year basis, the GST mop-up of 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 this year that the revenue collection from the GST has slipped below the Rs 1 lakh crore mark.
