Friday, October 1, 2021

GST collection hits 5-month high in Sep at Rs 1.17 lakh cr

 

India's GST collection remained above Rs 1 lakh crore for the third month in a row at over Rs 1.17 lakh crore in September, raising expectations that second half of the year will post higher revenues.

Illustration: Dominic Xavier

The tax collections in September on goods sold and services rendered was 23 per cent higher than Rs 95,480 crore collected in September 2020, and 27 per cent higher than Rs 91,916 crore collected in September 2019.

The collection in September is the highest in five months since April, when revenue was at record high of Rs 1.41 lakh crore.

Goods and Services Tax (GST) collection in August and July was Rs 1.12 lakh crore and Rs 1.16 lakh crore respectively.

The gross GST revenue collected in the month of September 2021 is Rs 1,17,010 crore of which Central GST is Rs 20,578 crore, state GST is Rs 26,767 crore, integrated GST is Rs 60,911 crore (including Rs 29,555 crore collected on import of goods) and cess is Rs 8,754 crore (including Rs 623 crore collected on import of goods), the finance ministry said in a statement.

 

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