Slump in GST revenue signals danger: Experts

Jaipur: Revenue to the govt treasury through Goods and Services Tax (GST) has seen a slump in September. The Central Goods and Services Tax Department and the Commercial Tax Departments of the state governments - SGST departments, which collect GST, have collected GST revenue of Rs 1 lakh 73,240 crore in September, which is only 6.5 percent more than the Rs 1 lakh 62,712 crore collected in September month last year.

The net GST revenue shows a growth of only 3.9 percent i.e. Rs 1,52,782 crore in September 2024 as compared to Rs 1,47,098 crore of September 2023, which is a cause of concern for analysts.

There is a continuous increase in the number of taxpayers registered in GST in the country but the GST revenue collection is not increasing. Experts blame the loss in GST payment and bogus companies for this.

However, if the number of taxpayers of SGST and CGST of the state government is analyzed, then SGST has more taxpayers than CGST, but all of them are almost backward in revenue collection.