New Delhi : India’s August GST Collection has dropped by 12 per cent to Rs. 86,449 Crore, against Rs. 98202 Crore in August 2019. The GST collection was 87422 crore in July 2020.
Out of the Rs. 86449 crore, 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), read the montly data released by the Finance Ministry.
“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 Government and the State Governments after regular settlement in the month of August, 2020 is Rs. 34,122 crore for CGST and Rs. 35,714 crore for the SGST” said the finance ministry press release.
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.