GST revenue collection for September at a six-month high of Rs95,480 cr
01 Oct 2020
Gross GST revenue collection in September 2020 hit a six-month high of Rs95,480 crore, up3.9 per cent compared to the Rs91,916 crore collected in September last year, showing signs that economic recovery is in sight.
The September 2020 GST mop-up included CGST of Rs17,741 crore, SGST of Rs23,131 crore, IGST of Rs47,484 crore (including Rs22,442 crore collected on import of goods) and cess of Rs7,124 crore (including Rs788 crore collected on import of goods).
The government has apportioned Rs21,260 crore to CGST and Rs16,997 crore to SGST from IGST as regular settlement. The total revenue earned by the central and state governments after regular settlement in September 2020 stands at Rs39,001 crore for CGST and Rs40,128 crore for SGST.
Revenues for the month are 4 per cent higher than the GST revenues in the same month last year. During the month, 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.