GST collections cross Rs 1 lakh cr in Oct for first time in 8 months | GST collection 1.05 lakh crore in October, crosses 1 lakh crore for the first time in Corona » India News
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GST collections cross Rs 1 lakh cr in Oct for first time in 8 months | GST collection 1.05 lakh crore in October, crosses 1 lakh crore for the first time in Corona

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The GST collection stood at Rs 95,379 crore in October last year. – Symbolic photo.

The Indian economy in crisis due to Kovid-19 is now improving. The latest indication of this is from the Goods and Services Tax (GST) collection. According to data from the Finance Ministry, the GST collection in October stood at over Rs 1.05 lakh crore. For the first time since February, the GST collection figures have crossed 1 lakh crore.

80 lakh GSTR-3B returns filed

According to the Finance Ministry, a total of 80 lakh GSTR-3B returns have been filed till 31 October 2020. Due to this, October-2020 gross GST revenue has reached Rs 1,05,155 crore.

This includes CGST of Rs 19,193 crore, SGST of Rs 5,411 crore, and IGST of Rs 52,540 crore. Apart from this, Rs 8,011 has been received through cess. The IGST also includes Rs 23,375 crore recovered from imported goods.

10% more revenue than last year

The statement issued by the Finance Ministry said that the GST collection in October 2020 was 10% higher than the same period a year earlier. The GST collection stood at Rs 95,379 crore in the same period a year ago in October 2019.

The statement said that due to the stagnation of economic activity due to Kovid-19, the GST collection had come down to Rs 1 lakh crore.

GST Collection in Calendar Year 2020

Month Collection (Rs in crore)
January 1,10,828
February 1,05,366
March 97,597
April 31,294
May 62,009
June 90,917
July 87,422
August 86,449
September 95,480
October 1,05,155

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