GST collection falls below Rs 1 lakh crore in August

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New Delhi: The Goods and Services Tax (GST) collection dropped below Rs 1 lakh crore to Rs 98,202 crore in August, the Finance Ministry said on Sunday.

According to an official statement, the total gross GST revenue collected in the month of August, 2019 is Rs 98,202crore of which CGST is Rs 17,733crore, SGST is Rs 24,239crore, IGST is Rs 48,958 crore (including Rs 24,818crore collected on imports) and Cess is Rs 7,273 crore (including Rs 841crore collected on imports).

The total number of GSTR 3B Returns filed for the month of July up to 31st August, 2019 is Rs 75.80 lakh, the government statement said.

The government has settled Rs 23,165 crore to CGST and Rs 16,623 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 August, 2019 is Rs 40,898 crore for CGST and Rs 40,862 crore for the SGST.

The revenue in August, 2018 was Rs 93,960 crore and the revenue during August, 2019 is a growth of 4.51% 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% while the GST on imports has come down by 1.43% and the total collection has grown by 6.38%. During the month of August, 2019, the due date of filing returns was extended by a month in 58 districts in 7 states due to floods.

The government said Rs. 27,955 crore has been released to the states as GST compensation for the months of June-July, 2019.

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