New Delhi: The gross GST revenue collected in September was Rs 1.17 lakh crore that was 23 per cent higher in the same month last year.
Punjab and Haryana were among the states that recorded a double digit growth in GST collection in September this year as compared to the same month last year. Punjab’s share in GST collection was 17 per cent higher and that of Haryana 18 per cent higher during the period.
The average monthly gross GST collection for the second quarter of the current year has been Rs 1.15 lakh crore, which is 5 per cent higher than the average monthly collection of Rs 1.1 lakh crore in the first quarter of the
year.
The rise in collections was modest when compared to 1.12 lakh crore in August (for sales in July) this year but this was the third successive month that the accrual has been above the Rs 1-lakh-crore mark.
The Union Finance Ministry said in a statement that these figures indicated that the economy is recovering at a fast pace. The growth has also been due to anti-evasion activities, especially action against fake billers. The government expects the positive trend in the revenues to continue in the second half of the year.
The higher growth in September has been mainly fuelled by 30 per cent higher accruals from imports and 20 per cent hike in domestic transactions, including an import component.
The Centre had also released GST compensation of Rs 22,000 crore to states to meet their GST revenue gap.
Of the total collections, CGST is Rs 20,578 crore, SGST Rs 26,767 crore, IGST Rs 60,911 crore (including Rs 29,555 crore collected from imports) and cess is Rs 8,754 crore (including Rs 623 crore from imports).
The total revenue of Centre and the states after regular settlements in September 2021 is Rs. 49,390 crore for CGST and Rs 50,907 crore for the SGST.