New Delhi, Jan 9 (KNN) Voicing industries’ perspective regarding the dip in GST collections, industry body Associated Chambers of Commerce and Industry (ASSOCHAM) said that the drop in GST revenue could be because of the glitches in the GST system.

ASSOCHAM president Sandeep Jajodia in a press interview said that the government should take into account the glitches because of which there is a fall in the collection of revenues.

He further said that going for a “knew-jerk” reaction to deal with the falling revenues would not be the best thing; instead there should be attempts to explore other probable reasons.

Once the glitches are resolved, the figure of tax collection will automatically go positive, he added.

Earlier, the collection for the month of November hit a low figure of 80.808 crores, lowest since its implementation, according to the data furnished by Ministry of Finance.

Dissecting the data further, in comparison to the tax collections of previous months, the tax collection in October stood at Rs 83,364, Rs 92,150 crore for the month of September. Also earlier months including August and July, the tax collection stood relatively higher at Rs 90,669 crore and Rs 94,063 crore respectively.

The Goods and Services Tax was rolled out in the country from July 1, 2017 marking it as one of the biggest tax reform in the country. (With PIB Inputs) (KNN/ DA)