GST collection tops Rs 1 lakh crore for third straight month; at Rs 1.17 lakh cr in September



gst collection in september
Image Source : INDIA TV

GST collection tops Rs 1 lakh crore for third straight month

India’s Goods and Services Tax (GST) collection remained above the Rs 1-lakh-crore mark for third straight month in September at over Rs 1.17 lakh crore, the finance ministry said on Friday. The revenues for the month of September 2021, are 23 per cent higher than the GST revenues in September 2020.

“The gross GST revenue collected in the month of September 2021 is Rs 1,17,010 crore of which CGST is Rs 20,578 crore, SGST is Rs 26,767 crore, IGST 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.

CGST refers to Central Goods and Services Tax, SGST (State Goods and Service Tax) and IGST (Integrated Goods and Services Tax).

During September, revenues from import of goods were 30 per cent higher and revenues from domestic transactions (including import of services) were 20 per cent higher than the revenues from these sources during the same month last year.

“Coupled with economic growth, anti-evasion activities, especially action against fake billers have also been contributing to the enhanced GST collections. It is expected that the positive trend in the revenues will continue and the second half of the year will post higher revenues,” the statement added.

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