(Manisha Mahar, Intern Journalist); The collection of Goods and Services Tax (GST) increased four percent in September to Rs 95,480 crore. This is the highest GST collection ever done in any one month in the current financial year. This shows that the economy is on the way to recovery. The Finance Ministry has given information about this.
The ministry said that the GST collection of September 2020 is four percent more than the total GST collection of the same month of last year. The GST collection stood at Rs 91,916 crore in September 2019. In September this year, tax collection from goods imports was up 102 percent compared to the year before and revenue collection from domestic transactions (including import of services) was 105 percent.
The ministry said, “Gross GST revenue stood at Rs 95,480 crore in September 2020. This included the central GST of Rs 17,741 crore, state GST of Rs 23,131 crore, integrated GST of Rs 47,484 crore (including Rs 22,222 crore on imports of goods), and cess of Rs 7,124 crore (including Rs 788 crore collected on import of goods).”
The GST collection for September 2020 was 10 percent higher than that of August 2020. Earlier, during the current financial year GST received revenue of Rs 32,172 crore in April, 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.
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