Finance
By: Shree1news, 01 SEP 2020Rs. 86,449 crore of gross GST income collected within the month of August
The gross GST income collected within the month of August, 2020 is Rs. 86,449 crore of which CGST is Rs. 15,906 crore, SGST is Rs. 21,064 crore, IGST is Rs. 42,264 crore (together with Rs. 19,179 crore collected on import of products) and Cess is Rs.7,215 crore (together with Rs. 673 crore collected on import of products).
The federal government has settled Rs. 18,216 crore to CGST and Rs. 14,650 crore to SGST from IGST as common settlement. The overall income earned by Central Authorities and the State Governments after common settlement within the month of August, 2020 is Rs. 34,122 crore for CGST and Rs. 35,714 crore for the SGST.
The revenues for the month are 88% of the GST revenues in the identical month final yr. In the course of the month, the revenues from import of products have been 77% and the revenues from home transaction (together with import of providers) have been 92% of the revenues from these sources throughout the identical month final yr. It could even be famous that the taxpayers with turnover lower than Rs. 5 crore proceed to get pleasure from leisure in submitting of returns until September.
The chart exhibits traits in month-to-month gross GST revenues in the course of the present yr. The desk exhibits the state-wise figures of GST collected in every State in the course of the month of August 2020 as in comparison with August 2019 and for the total yr
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Supply: PIB
