GST collection falls 5.29% y-o-y to Rs 95,380 crore in October

GST collection declined 5.29 per cent to Rs 95,380 crore in October 2019, in comparison to the same month last year. GST revenue collection in October 2018 stood at Rs 1,00,710 crore, Ministry of Finance data released on Friday showed. Notably, GST collection increased 3.76 per cent in comparison to September 2019, when it was Rs 91,916 crore.

Out of gross GST collection of Rs 95,380 crore, CGST was Rs 17,582 crore, SGST was Rs 23,674 crore, IGST was Rs 46,517 crore (including Rs 21,446 crore collected on imports), and cess was Rs 7,607 crore (including Rs 774 crore collected on imports), showed data released by Ministry of Finance on Friday. The total number of GSTR-3B returns filed for the month of September up to October 31, 2019, was 73.83 lakh, the ministry further stated.

"The government has settled Rs 20,642 crore to CGST and Rs 13,971 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of October, 2019 is Rs 38,224 crore for CGST and Rs 37,645 crore for the SGST," the ministry said in its statement.

Although GST collection declined on annual basis in October 2019, the domestic component showed growth of 6.74 per cent growth year-on-year during April-October period, the ministry said. GST on imports showed negative growth and the total collection grew by 3.38 per cent, government data showed.