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September 2020 GST collections increase confirms Lockdown relaxations yields Sales

Though corona virus spread has increased and India become the world fastest cases per day in the global touching 6.4 million and ranks 2nd in the global list next to USA .
But thanks to relax of lockdown and  gross GST revenue collected in the month of September rose sequentially to Rs 95,480 crore from August’s collection, a statement from Union Finance Ministry said on Thursday. The collection is the highest since the lockdown.
 
In August, the gross GST collection stood at Rs 86,449 crore.
 
“The gross GST revenue collected in the month of September 2020 is Rs 95,480 crore, of which CGST is Rs 17,741 crore, SGST is Rs 23,131 crore, IGST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods) and cess is Rs 7,124 crore (including Rs 788 crore collected on import of goods),” the Ministry of Finance statement said.
 
The government has settled Rs 21,260 crore to CGST and Rs 16,997 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 September 2020 is Rs 39,001 crore for CGST and Rs 40,128 crore for SGST.
 
The revenues for the month are four per cent higher than the GST revenues in the same month last year.
 
During the month, the revenues from import of goods were 102 per cent and the revenues from domestic transactions, including import of services were 105 per cent of the revenues from these sources during the same month last year.
 
The GST revenue in April was Rs 32,172 crore, Rs 62,151 crore in May, Rs 90,917 crore in June, Rs 87,422 crore in July, and Rs 86,449 crore in August.
Splco Reporter
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