Home / News / India /  GST revenues likely at 1.45 lakh crore in September: Govt

Weeks after Revenue Secretary Tarun Bajaj claimed the Goods and Services Tax revenue to cross 1.5 lakh crore mark in October, another government official said the SGT revenue mop-up in September is expected to be around 1.45 lakh crore.

Since March, the collection has been over 1.4 lakh crore and in August it was 1.43 lakh crore.

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

ALSO READ: GST collection likely to cross 1.5 lakh crore from October: Revenue Secretary

The official revenue figures will be released on October 1. Earlier in 2021, the mop-up in September was 1.17 lakh crore.

As per estimates, the average yearly revenue from GST in 2022-23 is expected to be around 1.55 lakh crore, the official said.

On 14 September, Bajaj while addressing a Central Board of Indirect Taxes & Customs function had said, ""For the last couple of months, we've been trying very hard to reach that milestone of 1.5 trillion (lakh crore). But we have been failing a bit sometimes by 2,000 crore and sometimes by even 6,000 crore."

"The revenue that we will collect in October, the data of which will come on November 1, I am sure from that month onwards the CBIC on a regular basis shall deliver 1.5 trillion revenue for the government," the Union secretary said.

The collection in April was at a record high of 1.68 lakh crore. In May, GST revenue was 1.41 lakh crore, in June 1.44 lakh crore, 1.49 lakh crore (July) and 1.43 lakh crore (August).

With PTI inputs.

 

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