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GST revenue collection rises 4% to Rs 95,480 crore in September

Of the gross collection, CGST is Rs 17,741 crore, SGST is Rs 23,131 crore, IGST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods) and cess is Rs 7,124 crore (including Rs 788 crore collected on import of goods)

twitter-logoBusinessToday.In | October 1, 2020 | Updated 16:12 IST
GST revenue collection rises 4% to Rs 95,480 crore in September
GST revenue collection for September stood at Rs 95,480 crore

Goods and Services Tax (GST) revenue collection for the month of September stood at Rs 95,480 crore, breaching Rs 95,000 crore level for the first time this fiscal, the government data showed on Thursday. The revenue for the month is 4 per cent higher than Rs 91,916 crore collected in the same month last year.

Of the gross collection, CGST is Rs 17,741 crore, SGST is Rs 23,131 crore, IGST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods) and cess is Rs 7,124 crore (including Rs 788 crore collected on import of goods), showed the data released by the Ministry of Finance.

The GST tax mop up was the highest so far this fiscal. The revenue in April was Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore), July (Rs 87,422 crore), August (Rs 86,449 crore).

The government has settled Rs 21,260 crore to CGST and Rs 16,997 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 September, 2020 is Rs 39,001 crore for CGST and Rs 40,128 crore for the SGST, the data showed.

During the month under review, the revenues from import of goods were 102 per cent and the revenues from domestic transaction (including import of services) were 105 per cent of the revenues from these sources during the same month last year.

Also Read: Gross tax collections shrink 24% in April-August

Also Read: New TCS to be levied on total sales consideration, including GST

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