GST collections for January expected at Rs 103,000 cr

The Goods and Services Tax (GST) collections for January have crossed the Rs 1 lakh crore mark and is expected to be Rs 103,000 crore, acting Finance Minister Piyush Goyal said on Friday. Presenting the Interim Budget 2019-20, Goyal said the Rs 1 lakh crore barrier in average monthly collections seen over the past two years had finally been broken this January with the collection for last month expected to be at around Rs 103,000 crore.

"The average monthly GST collection this year has been Rs 97,100 crore, as compared to Rs 89,700 crore last year," Goyal said. In a tweet on Thursday, the Finance Ministry said the total GST collection for January last year was Rs 89,825 crore.

"There has been a significant improvement over collection of Rs 94,725 crore last month (December) and Rs 89,825 crore during the same month last year," it said.