GST collection touches Rs. 1,10,828 crore in January
New Delhi/IBNS: The gross Goods and Services Tax (GST) collection for the month of January touched Rs. 1,10,828 crore, officials said on Saturday.
"The gross GST revenue collected in the month of January, 2020 is ₹ 1,10,828 crore of which CGST is ₹ 20,944 crore, SGST is ₹ 28,224 crore, IGST is ₹ 53,013 crore (including ₹ 23,481 crore collected on imports) and Cess is ₹ 8,637 crore (including ₹ 824 crore collected on imports). The total number of GSTR 3B Returns filed for the month of December up to 31st January, 2020 is 83 lakh (prov)," read a government statement.
The government has settled Rs. 24,730 crore to CGST and Rs. 18,199 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 January, 2020 is Rs. 45,674 crore for CGST and Rs. 46,433 crore for the SGST.
The GST revenues during the month of January, 2020 from domestic transactions has shown an impressive growth of 12% over the revenue during the month of January, 2019.
Taking into account the IGST collected from imports of goods, the total revenue during January, 2020 has increased by 8% in comparison to the revenue during January, 2019.
During this month, the IGST on import of goods has shown a negative growth of (-) 3% as compared to January, 2019.
This is only second time since introduction of GST that the monthly revenues have crossed Rs. 1.1 lakh crore and sixth time during the year it has crossed Rs. 1 lakh crore.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
