The August collection is the second time since April that the mop-up failed to cross Rs 1 lakh crore mark, a level where the government officials expect collections to stabilise.
The Goods and Services Tax (GST) collected in August came in at 98,202 crore, the lowest in the first five months of the current fiscal, but the average monthly collection for the April-August period at Rs 1.02 lakh crore continues to be above the rate (Rs 99,083 crore) required to achieve the Centre’s Budget estimate for FY20.
The August collection is the second time since April that the mop-up failed to cross Rs 1 lakh crore mark, a level where the government officials expect collections to stabilise. “During April-August, 2019 vis-à-vis 2018, the domestic component has grown by 9.11% while the GST on imports has come down by 1.43% and the total collection has grown by 6.38%,” the government said in a statement.
Further, after regular settlement of integrated GST, the central GST came in at Rs 40,898 crore and states GST stood at Rs 40,862 crore. The statement said Rs 27,955 crore has been released to the states as GST compensation for June and July.
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During August, the due date of filing returns was extended by a month in 58 districts in seven states due to floods, the government said. The total number of GSTR 3B returns filed for the month of July up to August 31 was 75.80 lakh. The revenue in August 2018 was Rs 93,960 crore and the revenue during August 2019 translated a growth of 4.51% compared with the year-ago period.