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GST collection during September touches six months high; indicates a recovery in economic activities

GST collection during September touches six months high; indicates a recovery in economic activities
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Highlights

Ministry of Finance has said that the gross Goods and Services Tax (GST) revenue collection in the month of September stood at Rs 95,480 crore.

Ministry of Finance has said that the gross Goods and Services Tax (GST) revenue collection in the month of September stood at Rs 95,480 crore. The revenue collection in September is the highest so far during this fiscal.

Out of total GST collection, Central GST (CGST) is Rs 17,741 crore, State GST (SGST) is Rs 23,131 crore, Integrated GST (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).

.The government has settled Rs 21,260 crore to CGST and Rs 16,997 crore to SGST from IGST as regular settlement.

The Ministry in a statement said, the total revenue earned by Central Government and the State Governments after regular settlement in the month of September is over Rs 39,001 crore for CGST and Rs 40,128 crore for the SGST. It said, the revenues for the month are four per cent higher than the GST revenues in the same month of last year.

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

The chart shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of September 2020 as compared to September 2019 and for the full year.

Source: PIB


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