GST collection crosses Rs 1 lakh crore
The gross GST revenue collected in the month of October ...
The gross GST revenue collected in the month of October 2020 was Rs 1,05,155 crore, an official statement has said in November. This is the first time in the current financial year that the gross GST collections have crossed the Rs 1lakh crore mark. Out of the total GST revenue collected, CGST (Central GST) was Rs 19,193 crore, SGST (State GST) was Rs 25,411 crore and IGST (Integrated GST) was Rs 52,540 crore (including Rs 23,375 crore collected on import of goods) and cess was Rs 8,011 crore (including Rs 932 crore collected on import of goods).
The total number of GSTR-3B Returns filed for the month of October upto was 80 lakh. The government has settled Rs 25,091 crore to CGST and Rs 19,427 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 October, 2020 was Rs 44,285 crore for CGST and Rs 44,839 crore for the SGST. The revenues for the month are 10 per cent higher than the GST revenues in the same month last year, said a Finance Ministry statement. During the month, revenues from import of goods were 9 per cent higher and the revenues from domestic transactions (including import of services) were 11 per cent higher than the revenues from these sources during the same month last year.