GST Revenue Collection for August' 2020
As per the Press Information Bureau, the gross GST revenue collected in the month of August, 2020 is ₹ 86,449 crore of which CGST is ₹ 15,906 crore, SGST is ₹ 21,064 crore, IGST is ₹ 42,264 crore (including ₹ 19,179 crore collected on import of goods) and Cess is ₹7,215 crore (including ₹ 673 crore collected on import of goods).
The government has settled ₹ 18,216 crore to CGST and ₹ 14,650 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 August, 2020 is ₹ 34,122 crore for CGST and ₹ 35,714 crore for the SGST.
The revenues for the month are 88% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 77% and the revenues from domestic transaction (including import of services) were 92% of the revenues from these sources during the same month last year. It may also be noted that the taxpayers with turnover less than Rs. 5 crore continue to enjoy relaxation in filing of returns till September.
The government has settled ₹ 18,216 crore to CGST and ₹ 14,650 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 August, 2020 is ₹ 34,122 crore for CGST and ₹ 35,714 crore for the SGST.
The revenues for the month are 88% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 77% and the revenues from domestic transaction (including import of services) were 92% of the revenues from these sources during the same month last year. It may also be noted that the taxpayers with turnover less than Rs. 5 crore continue to enjoy relaxation in filing of returns till September.
Below is the official tweet with Chart analysis.
₹ 86,449 crore of gross GST revenue collected in the month of August.
— Ministry of Finance (@FinMinIndia) September 1, 2020
Read more➡️ https://t.co/oU4FEUbZWh pic.twitter.com/uqnDEi3er1
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