Rs 1,12,020 crore GST Revenue collection for August 2021
New Delhi: The Central government declared that the gross GST revenue collected in August 2021 is Rs 1,12,020 crore, of which CGST is Rs 20,522 crore, SGST is Rs 26,605 crore, IGST is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods). Cess is Rs 8,646 crore (including Rs 646 crore collected on import of goods).
The government has settled Rs 23,043 crore to CGST and Rs 19,139 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled Rs 24,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs.
The total revenue of Centre and the States after regular and ad-hoc payments in August 2021 is Rs 55,565 crore for CGST and Rs 57,744 crore for the SGST.
The Finance Ministry stated that August 2021 are 30 per cent higher than the GST revenues in the same month last year. During the month, the revenues from the domestic transaction (including import of services) are 27 per cent higher than the revenues from these sources during the same month last year.
Compared to the August revenues in 2019-20 of Rs 98,202 crore, this is a growth of 14 per cent.