India’s goods and services tax receipts drop to 3-month low in August

NEW DELHI (Reuters) – India’s goods and services tax (GST) collections was at a three-month low at 1.59 trillion rupees ($19.23 billion) in August, a government statement showed on Friday.

“Roughly numbers are in the range of 11% year-on-year growth as in earlier months,” Revenue Secretary Sanjay Malhotra told reporters.

The government collected 1.44 trillion rupees as GST in the same period last year.

It expects to garner 9.56 trillion rupees through GST in the current fiscal year that ends in March 2024.

($1 = 82.7238 Indian rupees)

(Reporting by Shivangi Acharya and Nikunj Ohri; Writing by Blassy Boben; Editing by Sudipto Ganguly and Mike Harrison)