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GST revenue for April, May set to fall drastically

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NEW DELHI : GST collections are set to fall drastically in April and May with the number of electronic permits (e-way bills) generated for transport of goods falling by close to 30% in March and by over 80% in April sequentially, reflecting the fall in economic activities, official data showed.

Data available from the Goods and Service Tax Network (GSTN), the firm that processes tax returns, showed that upto 27 April, businesses have generated only 6.7 million e-way wills in the month, against 40.6 million e-way bills generated in March.

The over 83% fall in e-way bills generated in April is set to have a telling effect on the GST revenue to be collected in May which is expected to be reported on 1 June.

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