Business/ News Measurements Network
Finance Minister Arun Jaitley on Thursday said that the acquisition of goods and services tax (GST) in October crossed the figure of one lakh crore rupees. In September last year, the GST collection was Rs 94,442 crore. For the first time in April this year, the GST collection reached one lakh crore rupees. Since then, it has remained consistently above Rs 90,000 crore.
Jaitley said in the tweet, "GST collection crosses one lakh crore rupees in October 2018. This is the success of reducing GST rates, preventing tax evasion, better compliance, doing the same in the whole country and negligent interference of tax officials.
The government has set a target of collection of GST of one lakh crore rupees every month in the current financial year. In May, the GST collection was Rs 94,016 crore, Rs 9,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August and Rs 94,442 crore in September.