After October GST cloud, await the November shine | Mint - livemint.com
India's Goods and Services Tax (GST) revenue is poised for a strong recovery in November, limiting the impact of the September rate cuts on state and central revenues, according to internal government assessments. The Centre expects the revenue buoyancy to sustain, thanks to the robust demand in the economy and a growing tax base.
Gross GST receipts grew at an average 9.8% annual rate in the April-September period, but slowed sharply to 4.6% in October. However, the growth is expected to rebound to a robust 10% in November, two people familiar with the government's assessment said. This would push monthly revenue receipts to approximately ₹2 trillion.
Mint Premium 1 Year at ₹999
Hurry! Offer ends at midnight!
Subscribe now
Already subscribed? Login
Premium benefits
-
Unlimited Access to exclusive, premium-only articles
-
E-paper (Print Edition) - read Mint exactly as it appears in print
-
Daily 10 Stock Recommendations from top SEBI-registered advisors
-
Global Perspective with select articles from The Economist & The Wall Street Journal
-
Mint Extraclass - live virtual sessions with finance and investment experts
-
Ad-lite Reading Experience with Expert Newsletters - stay focused on what matters