Gross collection from Goods & Services Tax (GST) registered a 4.6 per cent growth in October, the Finance Ministry reported on Saturday. However, net collection (gross collection minus refund) was almost flat.

Collection in October relates to goods consumed and services availed in September. It may be noted that the GST rate cut was made effective from September 22. At the same time, it was observed that Prime Minister Narendra Modi’s announcement of a rate-cut proposal on August 15 prompted people to hold off on purchases. Combining these two with the period of Sharadh was expected to impact overall GST collection in October.

Rate cut, consumer wait-and-watch impact

Data from the GST portal showed that gross collection from domestic sources grew by just 2 per cent, while net was almost

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