Biznextindia: India’s Gross GST revenue collections has increased by 16 % Year on Year to Rs. 1,03,184 crore in December 2019 as compared to Rs.94726 Crore in December 2018. However, it is slightly lesser than the GST collection of 103492 Crore in Nevember 2019.
According to the data released by the Finance Ministry, out of the Rs. 1,03,184 crore , CGST is Rs. 19,962crore, SGST is Rs. 26,792crore, IGST is Rs. 48,099crore (including Rs. 21,295crore collected on imports) and Cess is Rs. 8,331crore (including Rs. 847crore collected on imports). The total number of GSTR 3B Returns filed for the month of November up to 31stDecember, 2019 is 81.21lakh.
“The GST revenues during the month of December, 2019 from domestic transactions has shown an impressive growth of 16% over the revenue during the month of December, 2018. If we consider IGST collected from imports, the total revenue during December, 2019 has increased by 9% in comparison to the revenue during December, 2018. During this month, the IGST on import of goods has seen a negative growth of (-) 10%, but is an improvement over (-) 13% last month and (-) 20% in the month of October” finance ministry said.
The government has settled Rs. 21,814crore to CGST and Rs. 15,366crore 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 December, 2019 is Rs. 41,776 crore for CGST and Rs. 42,158 crore for the SGST.