July’s GST collection, that relates to sales made in June, does not reflect the latest round of GST rate cuts which came into force last Friday. Photo:New Delhi: Revenue receipts from goods and services tax (GST) rose marginally to ₹96,483 crore in July, indicating the efficacy of e-way bills now compulsory for shipment of goods within states and across the country in checking tax evasion. The improved tax receipts come in the wake of higher tax filings in July, said the finance ministry. GST receipts in June stood at ₹95,610 crore. “Compliance will increase and the tax rate cuts will start showing impact by boosting consumption demand,” he said.

Source: Mint August 01, 2018 11:11 UTC