Monday 26 October 2020

Finance secretary: 5.74 crore e-way bills generated in Sept; economy recovering

'Some major industrial states have shown very positive growth percentage in GST collection which is indicative of the process of economic recovery'

Finance Secretary Dr Ajay Bhushan Pandey on 1 October said more than 5.74 crore e-way bills have been generated in September and these are affirmative signs of economic growth as the business activities are unlocking gradually and despite the adverse impact of COVID-19.

“In this September, more than 5.74 crore e-way bills have been generated. These are affirmative signs of economic growth as the business activities are unlocking gradually and despite the adverse impact of COVID-19, there are indicators of economic recovery,” Pandey said.

The finance secretary said that there was positive revenue growth in September this year over the corresponding period last year as the Goods and Services Tax (GST) collection has shown not only a growth of 4% year-on-year with Rs 95,480 crore collections but also there is a record generation of e-Way bills on any single day since the facility was provided.

“On 30 September, 2020, almost 26.19 lakh e-way bills were generated, which is the highest ever count so far in a single day. This is the third day in this year when the e-way bills have been generated to mark a record count. Before 30 September, on 29 February this year 25.19 lakh e-way bills were generated while on 31 January around 24.74 lakh e-way bills were generated,” he added.

The Finance Secretary said that this is a very affirmative sign of economic recovery with increased business activities since the lockdown due to COVID-19 pandemic six months back.

“The number of e-Way bills generated on this month was 9.3% more than those generated on an average in the month of September previous year, with a record hike on a single day with 26.19 lakhs on 30 September, 2020,” Pandey said.

He said that the GST revenues gross collections of Rs 95,480 crores are 4% higher in this September than the GST revenues in the same month last year.

“Some major industrial states have shown very positive growth percentage in GST collection which is indicative of the process of economic recovery being (sic) on track. With the festive season coming in the next month, we are confident of better recovery in GST collection,” Pandey said.

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