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GST collection declines 5.29% to Rs 95,380 crore in October

04 Nov 2019 Evaluate

The finance ministry in its latest report has showed that the Goods and Services Tax (GST) collection declined by 5.29 per cent to Rs 95,380 crore in the month of October 2019, as against Rs 1,00,710 crore in the same month a year ago. Though, GST collection has increased by 3.77 per cent in comparison to September 2019, when it was Rs 91,916 crore. This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, despite October being a festive month.

Out of gross GST collection of Rs 95,380 crore, CGST was Rs 17,582 crore, SGST was Rs 23,674 crore, IGST was Rs 46,517 crore (including Rs 21,446 crore collected on imports), and cess was Rs 7,607 crore (including Rs 774 crore collected on imports). The data also showed that the total number of GSTR 3B returns (summary of self-assessed return) filed for the month of September (up to October 30) was 73.83 lakh.

Besides, the government has settled Rs 20,642 crore to CGST and Rs 13,971 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, 2019 is Rs 38,224 crore for CGST and Rs 37,645 crore for the SGST. Although GST collection declined on annual basis in October 2019, the domestic component showed growth of 6.74 per cent growth year-on-year during April-October period.

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