Gross GST revenue collection in August stands at Rs 86,449 crore
Goods and Service Tax
The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.
The government has settled Rs 18,216 crores to CGST and Rs 14,650 crores to SGST from IGST as regular settlement. The total revenue earned by the Central Government and the State Governments after regular settlement in August is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST.
The revenue for the month is 88 per cent of the GST revenue in the same month last year. The Goods and Services Tax (GST) stood at Rs 98,202 crore in August 2019.
During the month, the revenue from import of goods was 77 per cent and the revenue from domestic transactions was 92 per cent of the revenue from these sources during the same month last year.
The taxpayers with turnover less than Rs 5 crore will continue to enjoy relaxation in the filing of returns till September.