GST Revenue collection for August 2019 stands at Rs 98,202 crore

The total gross GST revenue collected in the month of August 2019 is Rs.98,202 crore (US$ 14.05 billion) of which CGST is Rs 17,733 crore (US$ 2.53 billion), SGST is Rs 24,239 crore (US$ 3.46 billion), IGST is Rs 48,958crore (US$ 7 billion) (including Rs 24,818 crore (US$ 3.55 billion)collected on imports) and Cess is Rs 7,273 crores (US$ 1.04 billion) (including Rs 841 crore (US$ 0.12 billion) collected on imports). The total number of GSTR 3B Returns filed for the month of July up to 31st August 2019 is 75.80 lakh.

The government has settled Rs 23,165 crore (US$ 3.31 billion) to CGST and Rs 16,623 crore (US$ 2.37 billion) 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 August 2019 is Rs 40,898 crore (US$ 5.85 billion) for CGST and Rs 40,862 crore (US$ 5.84 billion) for the SGST.

The revenue in August 2018 was Rs 93,960 crore (US$ 13.46 billion) and the revenue during August 2019 is a growth of 4.51 per cent over the revenue in the same month last year. During April-August 2019 vis-a-vis 2018, the domestic component has grown by 9.11 per cent while the GST on imports has come down by 1.43 per cent and the total collection has grown by 6.38 per cent. During the month of August 2019, the due date of filing returns was extended by a month in 58 districts in 7 States due to floods. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.