June 24, 2024


The business lovers

Gross GST collections in Aug down 1.11{ae9868201ea352e02dded42c9f03788806ac4deebecf3e725332939dc9b357ad} month-on-month to Rs 86.449 cr

The gross GST assortment in August stood at Rs 86,449 crore, down from Rs 87,422 crore gathered in July, the Finance Ministry explained on Tuesday.

The revenues for August are 88 for each cent of the GST gathered in the exact same month past 12 months.

In August 2019, Rs 98,202 crore was mopped up from Merchandise and Services Tax (GST).

Of the gross assortment,Central Merchandise and Services Tax (CGST) is at Rs 15,906 crore, State Merchandise and Services Tax (SGST) Rs 21,064 crore, Built-in Merchandise and Services Tax (IGST) Rs 42,264 crore (including Rs 19,179 crore gathered on import of merchandise) and Cess Rs seven,215 crore.

The authorities has settled Rs eighteen,216 crore to CGST and Rs fourteen,650 crore to SGST from IGST as standard settlement.

The whole profits gained by the central and state governments immediately after standard settlement in August, 2020 is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST, the ministry explained.