The Goods and Service Tax (GST) collection posted growth in September after six months of contradiction. The growth in GST and the manufacturing PMI at an eight-year high indicates the normal return in economic activities. Finance secretary Ajay Bhushan Pandey has commented the growth as, “affirmative signs of economic recovery”. As per the data from the finance ministry GST collection in September for the month of August is Rs 95,480 crores in 2020 which is 4% higher than Rs 91,916 crore in 2019. 

The Secretary further said the record growth is also seen in e-way bills or electronic permits for transportation of goods. In September, more than 5.74 crore e-way bills have been generated which is more than 5.71 crore e-way bills generated in February, before the lockdown. Goods whose worth is more than Rs.50,000.00 needs e-way billing for transportation within and across the states. These e-way bills are helpful to the officials to keep a check on transactions without physical interference in goods movement. 

He also said that in September some of the major industrial states have shown very positive growth percentage in GST collection indicating economic recovery on track. About 11 states and Union Territories has shown a double-digit increase in the collection on account of domestic transactions. The ministry said, “During the month, revenues from import of goods were 102% and the revenues from domestic transactions (including import of services) were 10.5% of those from these sources during the same month last year”.

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