Home Finance GST Crosses 1L Cr

GST Crosses 1L Cr

The Gross GST revenue collected in the month of October, 2020 is ? 1,05,155 crore in the country.

Out of the country collected Rs.1,05,155 Crore Gross GST of which CGST is ? 19,193 crore, SGST is ? 25,411 crore, IGST is ? 52,540 crore (including ? 23375crore collected on import of goods) and Cess is ? 8,011crore (including ?932 crore collected on import of goods).

The total number of GSTR-3B Returns filed for the month of October up to 31October, 2020 is 80 lakh.

The Union Government has settled ? 25,091 crore to CGST and ? 19,427 crore to SGST from IGST as regular settlement.

The total revenue earned by Central Government and the State Governments after regular settlement in the month of October, 2020 is ? 44,285 crore for CGST and ? 44,839 crore for the SGST.

The revenues for the month are 10 Percent higher than the GST revenues in the same month last year.

During the month, revenues from import of goods were 9 Percent higher and the revenues from domestic transaction (including import of services) are11Percent higher that the revenues from these sources during the same month last year, officials say.

The growth in GST revenue as compared to that in months of July, August and September, 2020 of -14PC, -8PC and 5PC respectively clearly shows the trajectory of recovery of the economy and, correspondingly, of the revenues.