GST revenues drops to a six-month low

GST revenues drops to a six-month low

Agency News

New Delhi, 1 Sep 2019:Goods and Services Tax (GST) revenues slid to a six-month low of ₹ 98,202 crore in August 2019. Average collections this financial year are still above ₹ 1.02 lakh crore, however.  

"The total gross GST revenue collected in the month of August, 2019 is ₹ 98,202 crore of which CGST is ₹ 17,733crore, SGST is ₹ 24,239crore, IGST is ₹ 48,958 crore and cess is ₹ 7,273 crore," the government said in a release. "The total number of GSTR 3B Returns filed for the month of July up to August 31, 2019 is 75.80 lakh." 

The revenue collected in August 2019 was 4.51% higher than what was collected in the same month of the previous year. "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 release added.