New Delhi | Jagran Business Desk: The gross Goods and Services Tax (GST) revenue collections jumped 30 per cent on a year-on-year basis to Rs 1.12 lakh crore in August, official data by the Ministry of Finance showed on Wednesday. According to an official release, during the period, the revenues from domestic transactions (including import of services) are also 27 per cent higher.

"The gross GST revenue collected in the month of August 2021 is Rs 1,12,020 crore of which central goods and services tax (CGST) is Rs 20,522 crore, state goods and service tax (SGST) is Rs 26,605 crore, integrated goods and services tax (IGST) is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods) and Cess is Rs 8,646 crore (including Rs 646 crore collected on import of goods)," the Ministry said.

Notably, the government has settled Rs 23,043 crore to CGST and Rs 19,139 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled Rs 24,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs. "The total revenue of Centre and the States after regular and ad-hoc settlements in the month of August 2021 is Rs 55,565 crore for CGST and Rs 57,744 crore for the SGST," said the release.

GST collection, after posting above Rs. 1 lakh crore mark for nine months in a row, dropped below Rs 1 lakh crore in June 2021 due to the second wave of COVID. With the easing out of COVID restrictions, GST collection for July and August 2021 have again crossed Rs 1 lakh crore, "which clearly indicates that the economy is recovering at a fast pace", the Ministry said.

Here's the month-wise GST Collection in 2021:

GST Collection in January: The monthly GST collections for January Rs 1,19,847 crore of which CGST is Rs 21,923 crore, SGST is Rs 29,014 crore, IGST is Rs 60,288 crore (including Rs 27,424 crore collected on import of goods) and Cess is Rs 8,622 crore (including Rs 883crore collected on import of goods).

GST Collection in February: GST collection rose 7 per cent year-on-year to Rs 1.13 lakh crore in the month. Of the Rs 1.13 lakh crore collected in February, Rs 21,092 crore was Central GST (CGST), Rs 27,273 crore was State GST (SGST) and Rs 55,253 crore was Integrated GST (IGST)

GST Collection in March: The gross GST revenue collected in the month of March 2021 is at a record of Rs 1,23,902 crore of which CGST is Rs 22,973 crore, SGST is Rs 29,329 crore, IGST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and Cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods).

GST Collection in April: The gross GST revenue collected in the month of April’ 2021 is at a record high of Rs. 1,41,384 crore of which CGST is Rs. 27,837 crore, SGST is Rs. 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs. 9,445 crore (including Rs. 981 crore collected on import of goods).

GST Collection in May: The gross GST revenue collected in the month of May 2021 is Rs 1,02,709 crore of which CGST is Rs 17,592 crore, SGST is Rs 22,653, IGST is Rs 53,199 crore (including Rs 26,002 crore collected on import of goods) and Cess is Rs 9,265 crore (including 868 crore collected on import of goods).

GST Collection in June: The gross GST revenue collected in the month of June 2021 is Rs 92,849 crore of which CGST is Rs 16,424 crore, SGST is Rs 20,397, IGST is Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods).

GST Collection in July: The gross GST revenue collected in the month of July 2021 is Rs 1,16,393 crore of which CGST is Rs 22,197 crore, SGST is Rs 28,541 crore, IGST is Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and Cess is Rs 7,790 crore (including Rs 815 crore collected on import of goods).

GST Collection in August: The gross GST revenue collected in the month of August 2021 is Rs 1,12,020 crore of which central goods and services tax (CGST) is Rs 20,522 crore, state goods and service tax (SGST) is Rs 26,605 crore, integrated goods and services tax (IGST) is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods)

Posted By: Talibuddin Khan