ICICI

GST collection drops by 5.29% to 95380 crore in October

Posted on 04 November 2019

The gross GST revenue collected in the month of October, 2019 is Rs 95,380 crore of which CGST is Rs 17,582 crore, SGST is Rs 23,674 crore, IGST is Rs 46,517 crore (including Rs 21,446 crore collected on imports) and Cess is Rs 7,607 crore (including Rs 774 crore collected on imports). The total number of GSTR 3B Returns filed for the month of September up to 31st October, 2019 is 73.83 lakh.

The government has settled Rs 20,642 crore to CGST and Rs 13,971 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 October, 2019 is Rs 38,224 crore for CGST and Rs 37,645 crore for the SGST.

The revenue during October, 2019 is declined by 5.29% in comparison to the revenue during October, 2018. However, during April-October, 2019 vis-à-vis 2018, the domestic component has shown 6.74% growth while the GST on imports has shown negative growth and the total collection has grown by 3.38%.

The chart shows trends in revenue during the current year.

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