Corona blues: April GST could fall by 40%

By: |
April 11, 2020 4:40 AM

With the lockdown hitting business activity, GST revenues for April could be down by 30-40% of the annual monthly collections of around Rs 1 lakh crore in FY20.

Currently collections are just a fifth of normal levels.Currently collections are just a fifth of normal levels.

With the lockdown hitting business activity, GST revenues for April could be down by 30-40% of the annual monthly collections of around Rs 1 lakh crore in FY20.

FMCG firms will ensure the dip isn’t more. Currently collections are just a fifth of normal levels.

Do you know What is FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Exports up 47.91 pc in July to $35.17 bn
2Net tax revenues rise 5 pc in FY21: FM Sitharaman
3West Bengal FM Amit Mitra writes to Nirmala Sitharaman against privatisation of insurance companies