India’s GST revenue stands at 88 per cent
NATIONAL | Sept 02, 2020:
The gross GST revenue collected in August is Rs 86,449 crore. Out of this, CGST is Rs 15,906 crore, SGST is Rs 21,064 crore and IGST is Rs 42,264 crore.
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. During the month, the revenue from the importation of goods was 77 per cent and the revenue from domestic transactions were 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.