Business Other News 02 Jan 2020 GST collections abov ...

GST collections above Rs 1lakh crore in December

FC INVESTIGATIVE BUREAU
Published Jan 2, 2020, 12:57 am IST
Updated Jan 2, 2020, 12:57 am IST
However, the collections could not reach the government’s target of Rs 1.10 lakh crore.
Of the gross collections, the Central GST of Rs 19,962 crore and State GST of 26,792 crore showed growth over November.
 Of the gross collections, the Central GST of Rs 19,962 crore and State GST of 26,792 crore showed growth over November.

Chennai: GST revenue collections remained above the Rs 1-lakh crore mark for the second consecutive month in December, though it came lower than the government’s target. The collections were higher than the year-ago mop-up, but stood lower than that in November.

In December, gross GST collections stood at Rs 1,03,184 crore, 8.8 per cent higher than Rs 94,762 crore in the same month 2018 but a tad lower than Rs 1,03,492 crore in November.

 

However, the collections could not reach the government’s target of Rs 1.10 lakh crore. Even the mop-up in August, September and October were less than Rs 1 lakh crore.

Of the gross collections, the Central GST of Rs 19,962 crore and State GST of 26,792 crore showed growth over November. However, Integrated GST of Rs 48,099 crore, which included Rs 21,295 crore collected on imports, was lower than Rs 49,028 crore in November. The cess collected was Rs 8,331 crore, including Rs 847 crore on imports. The total number of GSTR 3B Returns filed for the month of November up to December 31, 2019 was 81.21 lakh. “If we consider IGST collected from imports, the total revenue during December 2019 has increased by 9 per cent in comparison to the revenue during December 2018. During this month, the IGST on import of goods has seen a negative growth of 10 per cent, but is an improvement of 13 per cent over last month and 20 per cent in the month of October,’ the government said in a release.

The government has settled Rs 21,814 crore to CGST and Rs 15,366 crore to SGST from IGST. The total revenue earned by the central government and state governments after regular settlement in December 2019 was Rs 41,776 crore for CGST and Rs 42,158 crore for the SGST.

Some of the states recorded a high year-on-year growth in collections. Arunachal Pradesh registered 124 per cent growth, Nagaland 88 per cent, Manipur 64 per cent and Mizoram 60 per cent. Jharkhand and Lakshdweeep recorded negative growth.

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