GST revenue collection declines to Rs 95,380 crore in October despite festive season

GST revenue collection declines to Rs 95,380 crore in October despite festive season

NEW DELHI: The Goods and Services Tax (GST) collection in October declined to Rs 95,380 crore, as against Rs 1,00,710 crore in the same month a year ago, as per government data released on Friday.nnThe 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 Rs 73.83 lakh.nnThe government has settled ? 20,642 crore to CGST and ? 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 ? 38,224 crore for CGST and Rs  37,645 crore for the SGST.nnThe 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%.nnThe chart shows trends in revenue during the current year.

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