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GST collection in Oct, Rs 1.05 lakh cr: Finance Ministry

New Delhi, Nov1: The Finance Ministry on Sunday  said that the the gross GST revenue collected in the month of October, 2020 is Rs 1,05,155 crore.

The breakup, as per the Ministry, is CGST Rs 19,193 crore, SGST Rs 25,411 crore, IGST Rs 52,540 crore including Rs  23,375 crore collected on import of goods whereas the Cess Rs 8,011 crore which includes Rs 932 crore collected on import of goods.

The total number of GSTR-3B Returns filed for the month of October upto October 31, 2020 is 80 lakh, the Ministry said here.

The Government has settled Rs 25,091 crore to CGST and Rs 19,427 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, 2020 is Rs 44,285 crore for CGST and Rs 44,839 crore for the SGST, a statement said.

“The revenues for the month are 10 percent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 9 per cent higher and the revenues from domestic transaction (including import of services) are11 percent  higher than the revenues from these sources during the same month last year”, the statement reads further.

The Finance Ministry also said that the  growth in GST revenue as compared to that in months of July, August and September, 2020 of -14 per cent, -8 per cent and 5 per cent  respectively clearly shows the trajectory of recovery of the economy and, correspondingly of the revenues.

 

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