GST for December 2019 hits record Rs1,10,828 crore
03 February 2020
Gross GST revenue collection in January 2020 hit a record Rs1,10,828 crore, which included Rs20,944 crore by way of CGST, Rs28,224 crore of SGST, Rs53,013 crore of IGST (including Rs23,481 crore collected on imports) and cess amounting to Rs8,637 crore (including Rs824 crore collected on imports).
The total number of GSTR 3B returns filed for the month of December (up to 31 January 2020) stood at 8.3 million (provisional).
The central government has adjusted Rs24,730 crore to CGST and Rs18,199 crore to SGST from IGST as regular settlement. The total revenue earned by central and the state governments after regular settlement in the month of January 2020 stood at Rs45,674 crore for CGST and Rs46,433 crore for SGST.
GST revenues during January 2020 from domestic transactions has shown an impressive growth of 12 per cent over the revenue during the month of January, 2019. Taking into account the IGST collected from imports of goods, the total revenue during January 2020 has increased by 8 per cent in comparison to the revenue during January 2019. During this month, the IGST on import of goods has shown a negative growth of (-) 3 per cent as compared to January 2019. This is only second time since introduction of GST that the monthly revenues have crossed Rs1.1 lakh crore and sixth time during the year it has crossed Rs1 lakh crore.