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GST collections cross Rs 1 lakh crore in October for first time in 8 months – Business News , Firstpost



The GST collections had fallen beneath the psychologically essential Rs 1 lakh crore mark because the lockdown imposed to include the COVID-19 unfold dented financial exercise

New Delhi: GST collections in October stood at over Rs 1.05 lakh crore, crossing for the first time Rs 1 lakh crore mark since February this 12 months, the finance ministry stated on Sunday.

The complete variety of GSTR-3B returns filed until 31 October, 2020, is 80 lakh.

The gross GST income collected in the month of October 2020 is Rs 1,05,155 crore of which CGST is Rs 19,193 crore, SGST is Rs 5,411 crore, IGST is Rs 52,540 crore (together with Rs 23,375 crore collected on import of products) and cess is Rs 8,011 crore (together with Rs 932 crore collected on import of products), the ministry stated in a press release.

The income for the month is 10 % increased than Rs 95,379 crore collected in the identical month final 12 months.

The Goods and Services Tax (GST) collections fell from the psychologically essential Rs 1 lakh crore mark because the lockdown imposed to include the COVID-19 unfold dented financial exercise.

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