GST revenue crosses Rs. 1.40-lakh crore

GST revenue collection has been more than Rs 1.4 lakh crore for six months in a row. For the month of August, Rs 1,43,612 crore was collected, said the Ministry of Finance in a statement. It further added that revenues for August was 28 per cent higher than the GST revenues in the same month last year.

Gross GST revenue collected in August was Rs 1,43,612 crore, out of which CGST was Rs 24,710 crore, SGST was Rs 30,951 crore, IGST was Rs 77,782 crore including Rs 42,067 crore collected on import of goods, and cess was Rs 10,168 crore, including Rs 1,018 crore collected on import of goods.

The ministry said that it had settled Rs 29,524 crore to CGST and Rs 25,119 crore to SGST from IGST. After regular settlement, the total revenue of the Centre stood at Rs 54,234 crore and Rs 56,070 crore for states.

In August last year, the GST revenues stood at Rs 1,12,020 crore, which is 28 per cent lower than August this year. During the month, revenue from import of goods was 57 per cent higher and the revenue from domestic transactions (including import of services) was 19 per cent higher than the same month last year.