GST collection tops Rs 1 lakh crore

1 September 2021, 4:29 pm
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In August, GST collection topped Rs 1 lakh crore for the second straight month, signalling a swift economic recovery. On Wednesday, the finance ministry said that the GST revenue remained at Rs 1.12 lakh crore, 30% higher than the collection in the year-ago period.

“The gross GST revenue collected in the month of August 2021 is Rs 1,12,020 crore of which Central GST is Rs 20,522 crore, State GST is Rs 26,605 crore, Integrated GST is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods) and Cess is Rs 8,646 crore (including Rs 646 crore collected on import of goods),” the finance ministry said in a statement.

The mop up in August is, however, lower than Rs 1.16 lakh crore collected in July 2021.

The revenues for the month of August 2021 are 30 per cent higher than the GST revenues in the same month last year. In August 2020, Goods and Services Tax (GST) collection was Rs 86,449 crore.

Compared to the August 2019 revenues of Rs 98,202 crore, this is a growth of 14 per cent, the Ministry said.