Rs 3.26 Lakh Crore Central GST Collection in First 8 Months of the Fiscal
Minister of State for Finance, Anurag Singh Thakur in a written reply to the Lok Sabha on Monday, November 25 informed that the central Goods and Service Tax (GST) collections till October 2019 for the financial year 2019-20 stood at Rs 3,26,490 crore, which is around half the target of central government for the current fiscal.
The budget estimated Rs 6,63,343 crore collection for central GST in the current fiscal year.
On direct taxes, he informed that budget estimate for 2019-20 was Rs 13,35,000 crore, so far in the first eight months of the fiscal (April-October), the collection stood at Rs 5,18,084 crore.
A revenue loss estimated to be around Rs 1,45,000 crore due to corporate tax rate reduction.
Category: Economy & Banking Current Affairs