New Delhi: Government Tax Collection of Government Goods and Services (GST) remained above RS 1 Lakh Crore-Mark for the third consecutive month in September, data released by the Ministry of Finance showed on Friday.
The GST collection in September was stood at a height of five months Rs 1.17 lakh Crore, 23 percent higher than the collection in the same period last year.
Of the total collection, CGST is RS 20,578 Crore, SGST is Rs 26,767 Crore, IGST is Rs 60,911 Crore (including Rs 29,555 Crore collected on imported goods) and Cess is Rs 8,754 Crore (including RS 623 Crore collected on imported goods).
In addition, the average monthly GST gross collection for the second quarter of the current financial year is Rs 1.15 lakh Crore, 5 percent higher than the average monthly collection of Rs 1.10 lakh crore in the first quarter.
“This clearly shows that the economy recovered rapidly.
Coupled with economic growth, anti-avoidance activities, especially actions against fake billers have also contributed to the enhanced GST collection,” the Ministry of Finance said in the official release.
The center expects a positive trend in revenue to continue and hope that the second half of this year will post higher income.
The GST collection in August and July respectively 1.12 lakh crore and Rs 1.16 lakh crore.
During September, revenue from import goods is 30 percent higher and income from domestic transactions (including service imports) is 20 percent higher than income from these sources during the same month.
(With input from agency)
GST Collection Hits 5 months in September
