Poging GOUD - Vrij
E-way bills hit record 93.4 mn in Aug, signalling festive boost
Mint Mumbai
|September 06, 2023
Electronic permits for goods shipped within and across states shot up to an all-time high of 93.4 million in August, pointing to brisk economic activity which could boost Goods and Service Tax (GST) revenue collections in September.
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The high frequency indicator aligns with manufacturing PMI data for August which suggested strong demand and output growth in August.
The sharply higher e-way bill data points to businesses pushing supplies to the market as the festive season kicks in. The previous highest level of e-way bill generation of 90.9 million was reported in March, resulting in the highest ever GST revenue collection of ₹ 1.87 trillion in April. Tax payments to government for sales in a given month is made in the subsequent month.
Data from GSTN, the company that processes GST returns, showed that e-way bill generation shot up by over 19% in August from the year-ago level and by over 6% from the previous month.
Dit verhaal komt uit de September 06, 2023-editie van Mint Mumbai.
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