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GST revenue in September seen at Rs 1.45 lakh crore on improved business activity: Reports

Official revenue figures will be released on October 1.

September 28, 2022 / 03:32 PM IST

Goods and Services Tax (GST) revenue collection in September is expected to be around Rs 1.45 lakh crore, news agency PTI reported.  Official revenue figures will be released on October 1.

"The collection in September is likely to be little more than Rs 1.45 lakh crore. Improved business activity is expected to yield better collections in coming months," PTI quoted an official as saying.

The collection has been over Rs 1.4 lakh crore since March and stood at Rs 1.43 lakh crore the previous month. The mop-up in September last year was Rs 1.17 lakh crore.

Nitin Gupta, chairman of the Central Board of Direct Taxes (CBDT), believes that there has been a good momentum in tax collections.

"We believe that there is a good momentum in terms of tax collections, the taxpayers are recognizing that what they have to pay they should pay," he said in an exclusive conversation with CNBC TV18.

Talking about the online gaming sector, which has now come in the radar of the IT department for not disclosing proper declarations in terms of the winning prizes, Gupta said the board is in the process of issuing notices to the concerned persons and businesses.

"We had mounted action in this sector and determined that around Rs 50,000 crore of winnings were there in last three years. And the data is with us, we are in the process of issuing notices," he said.

The GST collection in April was at a record high of Rs 1.68 lakh crore. In May, GST revenue was Rs 1.41 lakh crore, in June Rs 1.44 lakh crore, Rs 1.49 lakh crore (July) and Rs 1.43 lakh crore (August).
Moneycontrol News
first published: Sep 28, 2022 03:32 pm