GST revenue rises 4% to Rs 95,480 cr in Sept; reports highest monthly collection in 6 months

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In September, revenues from import of goods were 102% and revenues from domestic transaction were 105% of the revenues from these sources 

The country’s GST revenue collection during September has increased 4 percent to Rs 95,480 crore as compared to Rs 91,916 cr collected during the same period the previous year indicating signs of economic revival, said the Finance Ministry on Thursday in a statement.

The September Goods and Service Tax (GST) revenue collection is the highest amount on monthly basis after the national lockdown was declared in March this year in the wake of the COVID-19 outbreak.

Of the total GST collected in September, the 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).

In September last year, the country’s GST collection stood at Rs 91,916 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 Centre and the state governments after regular settlement in September is Rs 39,001 crore for CGST and Rs 40,128 crore for the SGST.

"The revenues for the month are 4 percent higher than the GST revenues in the same month last year. During the month, the revenues from import of goods were 102 percent and the revenues from domestic transaction (including import of services) were 105 percent of the revenues from these sources during the same month last year," said the Finance Ministry.

The GST revenue of Rs 95,480 crore in September is 10 percent higher than the collection of Rs 86,449 crore reported in August this year.

The GST revenue collection during April this year stood at Rs 32,172 crore, May (Rs 62,151 crore), June (Rs 90,917 crore) and July (Rs 87,422 crore).

 

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