GST collection figures for September are out. Last month it grew by 6.5% to Rs 1,73,240 crore. This is its slowest pace in more than three years. Know what was the reason for the slowdown…
New Delhi: GST collection in September grew by 6.5% to Rs 1,73,240 crore. Last month, the pace of growth in GST collection was the slowest in three years. This time the biggest reason for the slowdown was domestic sources as Integrated GST, including imports, recorded an 8.8% growth in September. According to official data, Central GST collection grew by 5.4% to Rs 31,422 crore while State GST collection grew by 4.3%. One reason for the slowdown in collection growth could be the floods in many parts of the country. Strong monsoon affected normal life in many states. For example, Andhra Pradesh saw a decline of 4%. Many districts in the state were hit by floods. Similarly, there was no change in GST collection in Gujarat. The northeastern state of Manipur saw a 33% decline in GST collection. Madhya Pradesh, Chhattisgarh, Mizoram and Nagaland also remained in loss. In contrast, Haryana (24%) and Delhi (20%) topped the growth chart.
GST collection lowest in four months
| Month | GST Collection (in Rs crore) |
| April, 2024 | 2,10,267 |
| May | 1,72,739 |
| june | 1,74,000 |
| july | 1,82,075 |
| august | 1,74,962 |
| september | 1,73,240 |
What experts say
However, tax experts and the industry are expecting good festive sales due to normal monsoon. Deloitte partner MS Mani said that GST revenue for September may be slightly disappointing. These collections are related to supplies in August as the festive season begins this month. This results in an increase in revenue. GST collections for the coming months of the festive season will be keenly watched as they are also an indication of economic growth. GST revenues have grown in single digits in many large states and are expected to recover in the coming months.
