GST collections cross Rs 1 lakh crore in October

GST collections cross Rs 1 lakh crore in October

NEW DELHI: GST collections in October have crossed the Rs 1 lakh crore mark, Finance Minister Arun Jaitley said on Thursday.nnThe revenue from goods and services tax (GST) in September was Rs 94,442 crore.nnGST mop-up had crossed the Rs 1 lakh crore mark for the first time in April and since then it has remained above the Rs 90,000 crore level.nnGST collections for October 2018 have crossed Rs 1 lakh crore. The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities, Jaitley tweeted.nnThe Finance Ministry had targeted monthly GST collections to be Rs 1 lakh crore for this fiscal.nnThe collections stood at Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August and Rs 94,442 crore in September.nnSource: Press Trust of India

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