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Dip in August GST collection

by BQ News Bureau
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The gross GST revenue collected in August is Rs.86,449 crore, according to a government report on Wednesday.

Of this, CGST is Rs.15,906 crore, SGST is Rs.21,064 crore, IGST is Rs.42,264 crore (including Rs. 19,179 crore collected on import of goods) and cess is Rs.7,215 crore (including Rs. 673 crore collected on import of goods).

The government has settled Rs.18,216 crore to CGST and Rs.14,650 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 is Rs. 34,122 crore for CGST and Rs. 35,714 crore for SGST.

The GST revenue for August is 88 per cent of the revenue earned during the corresponding period last year. Revenue from the import of goods was 77 per cent and revenue from the domestic transaction was 92 per cent of the revenue during the same month last year. Taxpayers with a turnover less than Rs.5 crore continue to enjoy relaxation in the filing of returns till September.

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