While GST revenue grew 4% year-on-year in September to ₹95,480 crore. Also more than 5.74 crore e-way bills have been generated in the month which is more than the 5.71 crore e-waybills raised in February, before the country went into a national lockdown in March
The number of electronic permits (E-way bills) raised for transport of goods in September as well as the Goods and Services Tax (GST) receipts collected in the month are “affirmative signs of economic recovery”, finance secretary Ajay Bhushan Pandey has said.
The positive GST revenue growth of 4% year-on-year in September to ₹95,480 crore signals that economic recovery is on track, Pandey said in a statement given late last night. “With the festive season coming in the next month, we are much confident of better recovery in GST Collection,” Pandey said.
E-way bills or electronic permits for transportation of goods too have shown record growth, he said. In September, more than of 5.74 crore e-way bills have been generated. This is more than the 5.71 crore e-waybills raised in February, before the country went into a national lockdown in March, data available with GSTN, the company that gives tech support for administering GST, showed. E-way bills are required for transporting goods worth more than ₹50,000 within and across states. These enable officials to keep a tab on transactions without physically interfering with goods movement.
Also, Wednesday saw a jump in e-way bill generation. “On 30 September, almost 26.19 lakh e-way bills were generated which is the highest ever count so far in a single day. This is the third day this year when e-way bills have been generated to mark a record count. Before this, on 29 February, 25.19 lakh e-way bills were generated while on 31 January around 24.74 lakh e-way bills were generated”, Pandey said in the statement.
The number of e-way bills generated in September was 9.3% more than the bills raised on an average in September last year, he said. He also said that in September, some major industrial states have shown very positive growth percentage in GST collection which is indicative of economic recovery being on track.
Source: livemint.com
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