ECONOMY

GST Collection in August at Over Rs 1.12 Trillion: Government

On 31 August, GST revenue remained above the Rs 1 trillion marks for the second straight month in August at over Rs 1.12 trillion, 30 per cent higher than the collection in the year-ago period, the finance ministry said.

“The gross GST revenue collected in August 2021 is Rs 1,12,020 crore, of which Central GST is Rs 20,522 crore, State GST is Rs 26,605 crore, Integrated GST 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 finance ministry said in a statement.

The mop-up in August is, however, lower than Rs 1.16 trillion collected in July 2021.

“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 August 2021 is Rs 55,565 crore for CGST and Rs 57,744 crore for the SGST,” said the Ministry of Finance in a statement.

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