New Delhi, Nov. 2 -- India's Goods and Services Tax fell 5.3 per cent year-on-year to Rs 95,380 crore in October but saw a 3.8% improvement over September collections.
According to official data released on Friday, GST revenues stood at Rs 95,380 crore, up from Rs 91,916 crore in September this year but lower than Rs 1,00,710 crore in October 2018.
Overall GST collections in April-October 2019 increased 3.38% year-on-year. While the domestic component grew 6.74% during April-October, GST on imports showed a decline.
The year-on-year decline in GST receipts reflects the demand slowdown in the Indian economy. Official data released on Thursday showed that core sector output of eight major industries had contracted 5.2% in September, it...