The ministry said that the total revenue earned by the central and state governments after regular settlement in October was Rs 44,285 crore for CGST and Rs 44,839 crore for the SGST.
GST revenue has finally crossed the Rs 1 lakh crore mark for the first time since February this year and the following lockdown that began in March. The collection for October stood at Rs 1,05,155 crore up from Rs 95,480 crore in September, according to the data from the Finance Ministry. Of Rs 1.05 crore, “CGST is Rs 19,193 crore, SGST is Rs 25,411 crore, IGST is Rs 52,540 crore (including Rs 23375 crore collected on import of goods),” the ministry said in a statement. On the other hand, Cess was Rs 8,011 crore including Rs 932 crore collected on import of goods. The total GSTR-3B Returns filed in October 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 statement added. The ministry said that the total revenue earned by the central and state governments after regular settlement in October was Rs 44,285 crore for CGST and Rs 44,839 crore for the SGST.
Importantly, October 2020 revenue was 10 per cent up from the year-ago period collection of Rs 95,379 crore. Moreover, revenue from the import of goods was 9 per cent more and revenue from the domestic transactions (including import of services) was 11 per cent up from the corresponding period last year. “The growth in GST revenue as compared to that in months of July, August and September 2020 of -14%, -8% and 5% respectively clearly shows the trajectory of recovery of the economy and, correspondingly, of the revenues,” the ministry added.
The collections for June, July, and August stood at Rs 90,917 crore, Rs 87,422 crore, and Rs 86,449 crore respectively. The top three states/UTs with the highest jump in GST Collection in October 2020 from October 2019 were Arunachal Pradesh with 138 per cent, Dadra and Nagar Haveli with 115 per cent, and Mizoram with 72 per cent. On the other hand, Delhi saw growth of minus 8 per cent while Maharashtra witnessed only 5 per cent jump during the said period.