Categories: Business

India collected a gross GST of Rs 86,449 crore in august

Photo: PTI

GST collection fall

new Delhi. There has been a decline in GST collection in August. According to the data released by the government, the collection during this period decreased by 12% to Rs 86449 crore from the previous year. It also has a slight downward trend compared to July. The total collection of GST in July was Rs 87442 crore. The GST collection being close to the July level in the month of August indicates that the GST collection is now moving towards stability.

According to official information, during August, the Center has collected Rs 34122 crore and states have collected Rs 35714 crore. Income from import of goods during August stood at 77 per cent of the same period last year. Domestic transactions, including import of services, have been 92 per cent of the previous year's level. Among the gross collections, Central Goods and Services Tax (CGST) was Rs 15,906 crore, State GST (SGST) was Rs 21,064 crore, Integrated Goods and Services Tax (IGST) was Rs 42,264 crore and Cess was Rs 7,215 crore.

The official statement said that given the data, it should also be noted that traders with a turnover of less than 5 crores are exempt from filing returns till September. On the selection figures, experts say that on the domestic front after the lockdown opens There are signs of recovery. However, the impact of pressure on foreign economies has been seen on the import account.

This post was published on September 1, 2020 8:07 pm

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