GST off to a smooth start with its first collection


New Delhi: The first collection of numbers after the rollout of GST is definitely going to bring good news to those who were in doubt. According to an Indian government official, the integrated goods and services tax (IGST) collections on imports in the first 10 days of the new regime crossed around 4,000 crore INR.
“Collections would have crossed Rs 4,000 crore… Data is pouring in and final tabulations will be available in some time,”

These collections do not add levies on petroleum and natural gas products s they are already not being covered by the Goods and Services Tax.

“On the face of it, the pace of collections looks usual,” the official said. “A detailed analysis will be carried out at the end of this month when more complete data will be available.” –News Source

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