GST Collection Falls to 19 Month Low in September

As per the data published by PIB (Press Information Bureau) the total gross GST revenue collected in the month of September, 2019 is ₹ 91,916 crore of which CGST is ₹ 16,630 crore, SGST is ₹ 22,598 crore, IGST is ₹ 45,069 crore (including ₹ 22,097 crore collected on imports) and Cess is ₹7,620 crore (including ₹ 728 crore collected on imports). The total number of GSTR 3B Returns filed for the month of August up to 30th September, 2019 is 75.94 lakh.
This is the lowest GST gross revenue collection in last 19 months. The previous low was ₹ 85,962 crore, collected in February 2018. This collection is far below than the budgetary estimate of ₹ 1 lakh crore plus collecton.
The government has settled ₹ 21,131 crore to CGST and ₹ 15,121 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 September, 2019 is ₹ 37,761 crore for CGST and ₹ 37,719 crore for the SGST.
The revenue during September, 2019 is declined by 2.67% in comparison to the revenue during September, 2018. During April-September, 2019 vis-à-vis 2018, the domestic component has grown by 7.82% while the GST on imports has shown negative growth and the total collection has grown by 4.90%.


Stay tuned for more updates. Feel free to comment.

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You may also like to Read:

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