New Delhi, Nov. 8 -- Goods and services tax (GST) collections by the central and state governments fell 5.3% year-on-year to '95,380 crore in October, but saw a 3.8% improvement over September collections, the finance ministry said.
According to the finance ministry statement, GST collections in September were at '91,916 crore, while in October 2018 the government had mopped up '1 trillion in consumption taxes. The year-on-year decline in GST receipts reflects the demand slowdown in the Indian economy.
Muted GST revenue collections are set to put more pressure on central government finances, which is already showing sluggish growth.
According to the Controller General of Accounts (CGA) data, in the first half of the fiscal year, the cent...