New Delhi: The Union Ministry of Finance on Tuesday (September 1, 2020) stated that the gross Items and Providers Tax (GST) income collected in August 2020, stood at 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).
As per experiences, the federal government additionally settled Rs 18,216 crore to CGST and Rs 14,650 crore to SGST from IGST as common settlement.
The entire 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. Through the month, the revenues from import of products had been 77% and the revenues from the home transaction (together with import of companies) had 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 crores proceed to get pleasure from leisure within the submitting of returns until September,” stated the Finance Ministry.
Under is the State-wise assortment until August (Doesn’t embody GST on import of products):
|1||Jammu and Kashmir||302||326||8%|
|25||Daman and Diu||103||70||-32%|
|26||Dadra and Nagar Haveli||159||145||-9%|
|35||Andaman and Nicobar Islands||30||13||-59%|
The chart beneath exhibits developments in month-to-month gross GST revenues throughout 2021:
Notably, the gross GST income collected in August 2019 stood at Rs 98,202 crore.