NEW DELHI: The number of electronic permits obtained for the transport of goods in September, as well as the receipts for goods and services tax (GST) collected in the month, are “positive signs of economic recovery,” said Finance Secretary Ajay Bhushan Pandey.
Positive GST revenue growth of 4% YoY in September for ₹Rs 95,480 crore indicates that economic recovery is on the way, Pandey said in a statement issued last night. “With the holiday season coming up next month, we are very confident of a better recovery at GST Collection,” said Pandey.
Electronic invoices or electronic permits for the transport of goods have also shown record growth, he said. In September, more than 5.74 billion electronic tickets were generated. This is more than the 5.71 crore electronic guides collected in February, before the country entered a national lockdown in March, data available from GSTN, the company that provides technical support for managing GST, showed. Electronic invoices are required to transport merchandise worth more than ₹50,000 within and between states. These allow officials to control transactions without physically interfering with the movement of goods.
In addition, Wednesday saw a jump in the generation of electronic invoices. “On September 30, almost 26.19 lakhs of e-way tickets were generated, which is the highest count so far in a single day. This is the third day this year that invoices are generated electronically to set a record count. Prior to this, on February 29, 25.19 lakh of e-tickets were generated, while on January 31, about 24.74 lakh of e-tickets were generated, “Pandey said in the statement.
The number of electronic invoices generated in September was 9.3% more than the invoices collected on average in September of last year, he said. He also said that in September, some major industrial states have shown a very positive percentage growth in GST collections, which is indicative that the economic recovery is on the right track.
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