In September 2020, the tax collections from import of goods and domestic transaction were 102 per cent and 105 per cent, respectively, of the revenues from these sources during the same month last year.
The government’s collection of Goods and Services Tax (GST) climbed to ₹ 95,480 crore in September, in signs of economic revival and return of demand due to lifting of COVID-19-related restrictions. That marked the highest level of GST collection in a month since the beginning of the lockdown to curb the spread of GST. The latest reading was 4 per cent higher compared to the corresponding month last year, and nearly three-times the mop-up in April 2020.
Gross GST revenue collected in September 2020 stood at ₹ 95,480 crore, the Finance Ministry in a statement. That included collection of ₹ 17,741 crore under Central GST, ₹ 23,131 crore under State GST, and ₹ 47,484 crore under Integrated GST.
The September tally also included the collection of ₹ 22,442 crore on import of goods, and cess of ₹ 7,124 crore (including ₹ 788 crore collected on import of goods), according to official data.
GST collections were at ₹ 86,449 crore in August, Rs 87,422 crore in July, Rs 90,917 crore in June, ₹ 62,151 crore in May and ₹ 32,172 crore in April.
The government imposed a nationwide lockdown from March 25 to curb the spread of COVID-19 infections, and started easing restrictions in late May.
The revenues for the month are 88% of the GST revenues in the same month last year. During
the month, the revenues from import of goods were 77% and the revenues from domestic
transaction (including import of services) were 92% of the revenues from these sources during
the same month last year. It may also be noted that the taxpayers with turnover less than Rs. 5
crore continue to enjoy relaxation in filing of returns till September.
The chart shows trends in monthly gross GST revenues during the current year as
compared to last year.
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