New Delhi: The slowdown in three sectors — automobiles, cement and iron & steel — along with falling imports have taken a toll on GST collections, even as the services sector has managed to hold firm.
Collections in September fell 2.7% to a little under Rs 92,000 crore, the lowest since March 2018, and was way below the psychological comfort level of Rs 1 lakh crore. The three key sectors saw lower collections of Rs 6,200 crore, while several sectors such as electronics, consumer goods and tobacco have seen a healthy rise in GST payouts, officials told TOI. While goods contribute around 70% of the GST revenue, services account for the rest.
Auto sector, which has seen sales decline for 11 straight months, led the decline with Rs 3,500 crore, followed by cement (around Rs 1,500 crore) and steel (around (Rs
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