GST Revenue Collected In September 2021 is Rs 1,17,010 Crore: Finance Ministry
The revenue for the month of September 2021 is 23% higher than the GST revenues in the last year
Mumbai: The GST revenue collections for September 2021 stood at ₹1,17,010 crore, crossing the ₹1 lakh crore mark for the third month in a row.
“This includes Rs 20,578 crore Central Goods and Services Tax (CGST), Rs 26,767 crore State Goods and Service Tax (SGST), Rs 60,911 crore (incl Rs 29,555 crore collected on import of goods) Integrated Goods and Services Tax Act (IGST) and Rs 8,754 crore (including Rs 623 crore collected on import of goods) Cess,” said the ministry.
The ministry also added, “This clearly indicates that the economy is recovering at a fast pace. Coupled with economic growth, anti-evasion activities, especially action against fake billers have also been contributing to the enhanced GST collections. It is expected that the positive trend in the revenues will continue and the second half of the year will post higher revenues.”
The government has settled Rs 20,812 crore to CGST and Rs 24,140 crores to SGST from IGST as regular settlement. The total revenue of Center and the states after regular statements in the month of September 2021 is RS 49,390 crores from CGST and Rs 50,907 crore from the SGST.
The revenue for the month of September 2021 is 23% higher than the GST revenues in the same month last year. During the month, revenues from the import of goods were 30% higher and the revenues from the domestic transaction are 20% higher than the revenues from these sources last year. The revenue from for September 2020 was, in itself at a growth of 4% over the revenue of September 2019 of Rs 91,916 crores
The average monthly gross GST collection from the second quarter of the current year has been rupees 1.15 lakh crore, which is 5% higher than the average monthly collection of Rs. 1.10 Lakh crore in the first quarter of the year.
The Center had also released GST compensation of Rs 22,000 crore to the states to meet their GST revenue gap.
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