Business Today
Loading...

GST revenue collection in August stands at Rs 86,449 crore

Goods and Services Tax (GST) revenue collection for the month of August stood at Rs 86,449 crore, the government data showed on Tuesday

twitter-logoBusinessToday.In | September 1, 2020 | Updated 18:49 IST
GST revenue collection for August stands at Rs 86,449 crore
GST revenue collection in August

Goods and Services Tax (GST) revenue collection for the month of August stood at Rs 86,449 crore, the government data showed on Tuesday. The collection is lower than July's Rs 87,422 crore. The GST collection stood at Rs 98,202 crore in August last year.

Of the gross collection, CGST is Rs 15,906 crore, SGST is Rs 21,064 crore, IGST is Rs 42,264 crore (including Rs 19,179 crore collected on import of goods) and cess is Rs 7,215 crore (including Rs 673 crore collected on import of goods).

The government has settled Rs 18,216 crore to CGST and  Rs 14,650 crore to SGST from IGST as regular settlement. The total revenue earned by Central and the state governments after regular settlement in the month of August is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST.

"The revenues for the month are 88% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 77% and the revenues from domestic transaction (including import of services) were 92% of the revenues from these sources during the same month last year. It may also be noted that the taxpayers with turnover less than Rs 5 crore continue to enjoy relaxation in filing of returns till September," said Ministry of Finance in a statement.

Also read: GST Compensation Row: Whatever is said outside GST Council meeting is not important, says Sushil Modi

Also read: Businesses with turnover up to Rs 40 lakh exempted from GST

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close