India Economy Watch - GST Collections At Rs 1.3 Trillion In December: Motilal Oswal
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Motilal Oswal Report
Total Goods and Services Tax collections stood at Rs 1.3 trillion in December 2021 (for economic activity in November 2021), implying a growth of 13% YoY to Rs 1.32 trillion in Dec-21.
Although total collections were similar to that in the previous two months, it clocked the slowest growth in the past six-months in Dec-21. The average GST collection was Rs 1.3 trillion per month in Q3 FY22, the highest in any quarter since the introduction of GST in July 2017.
Notably, total revenue from domestic transactions (including imports of services) was up just 5% YoY in Dec-21, while revenue from imports of goods was up 36% YoY.
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