GST revenue collection drops to Rs98,202 crore in August
03 September 2019
Total collection of revenue under the Goods and Services Tax (GST) in August dropped to Rs98,202 crore, against tax collection of Rs1.02 lakh crore in July this year. The August mop-up was, however, 4.5 per cent higher than the Rs93,960 crore collected in the same month last year.
Total collection of revenue under the Goods and Services Tax (GST) in August 2019 stood at Rs98,202 crore, which included central GST (CGST) of Rs17,733 crore, state GST (SGST) of Rs24,239crore, Integrated GST (IGST) of Rs48,958 crore (including Rs24,818 crore collected on imports) and cess of Rs7,273 crore (including Rs841 crore collected on imports).
The total number of GSTR 3B returns filed for the July (up to 31 August 2019) stood at 7.58 million.
The government has settled Rs23,165 crore to CGST and Rs16,623 crore to SGST from IGST as regular settlement. The total revenue earned by the central government and the state governments after regular settlement in August 2019 amounted to Rs40,898 crore for CGST and Rs40,862 crore for SGST.
Total revenue from GST in August 2018 was Rs93,960 crore and the revenue during August 2019 is a growth of 4.51 per cent over the revenue in the same month last year. During April-August 2019 vis-à-vis 2018, the domestic component has grown by 9.11 per cent while the GST on imports has come down by 1.43 per cent while the total collection has grown by 6.38 per cent. During August 2019, the due date of filing returns was extended by a month in 58 districts in seven states due to floods.
Rs27,955 crore has been released to the states as GST compensation for the months of June-July 2019.