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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.
Bu hikaye Mint Mumbai dergisinin September 06, 2023 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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