GST collection in Dec up 10% over last year

India’s goods and services tax (GST) collections rose 10% year-on-year to 1.64 lakh crore in December, official data released showed. That’s down from 1.68 lakh crore in November and up from 1.49 lakh crore in the same month the year before.

Experts said the double-digit growth in collections reflected the underlying economic momentum and the monthly moderation was attributable to holidays and the base effect.

“The sequential dip in the headline GST collections between November and December reflects the impact of the holidays related to the festive season, as GST is remitted in the subsequent month,” said Aditi Nayar, chief economist, ICRA. “The moderation in the pace of growth of GST collections reflects the base effect.”