gst october revenue

GST Revenue Collected in the Month of October 2021 is ₹ 1,30,127 Crore

Article GST

Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20

The gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is ₹ 23,861 crore, SGST is ₹ 30,421 crore, IGST is ₹ 67,361 crore (including ₹ 32,998 crores collected on import of goods) and Cess is ₹ 8,484 crore (including ₹ 699 crores collected on import of goods).

The government has settled ₹27,310 crores to CGST and ₹ 22,394 crores to SGST from IGST as regular settlement. The total revenue of the Centre and the States after regular settlements in the month of October 2021 is ₹ 51171 crore for CGST and ₹ 52,815 crores for the SGST.

The revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20. During the month, revenues from import of goods were 39% higher and the revenues from domestic transactions (including import of services) are 19% higher than the revenues from these sources during the same month last year.

In September, the gross GST collections stood at ₹ 1,17,010 crore.

The goods and services tax (GST) mop-up for the month of October stood at over ₹ 1.30 lakh crore, 24 per cent higher than the GST revenues in the same month last year. In September, the gross GST collections stood at ₹ 1,17,010 crore.

“The GST revenues for October have been the second-highest ever since the introduction of GST, second only to that in April 2021,” the Ministry of Finance stated in a release.

StateOct-20Oct-21Growth
Jammu and Kashmir37764872%
Himachal Pradesh6916890%
Punjab1,3761,59516%
Chandigarh1521584%
Uttarakhand1,2721,259-1%
Haryana5,4335,6063%
Delhi3,2114,04526%
Rajasthan2,9663,42315%
Uttar Pradesh5,4716,77524%
Bihar1,0101,35134%
Sikkim17725745%
Arunachal Pradesh9847-52%
Nagaland303830%
Manipur436449%
Mizoram32321%
Tripura576717%
Meghalaya11714019%
Assam1,0171,42540%
West Bengal3,7384,25914%
Jharkhand1,7712,37034%
Odisha2,4193,59349%
Chhattisgarh1,9742,39221%
Madhya Pradesh2,4032,66611%
Gujarat6,7878,49725%
Daman and Diu70-99%
Dadra and Nagar Haveli283269-5%
Maharashtra15,79919,35523%
Karnataka6,9988,25918%
Goa3103173%
Lakshadweep1286%
Kerala1,6651,93216%
Tamil Nadu6,9017,64211%
Puducherry161152-6%
Andaman and Nicobar Islands192640%
Telangana3,3833,85414%
Andhra Pradesh2,4802,87916%
Ladakh151932%
Other Territory9113751%
Centre Jurisdiction11418966%
Grand Total80,84896,43019%

“The gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is ₹ 23,861 crore, State GST is ₹ 30,421 crore, Integrated GST is ₹ 67,361 crore (including ₹ 32,998 crores collected on import of goods) and Cess is ₹ 8,484 crore (including ₹ 699 crores collected on import of goods),” the Ministry said.

“The government has settled ₹ 27,310 crores to Central GST and ₹ 22,394 crores to SGST from IGST as regular settlement. The total revenue of Centre and the states after regular settlements in the month of October 2021 is ₹ 51,171 crores for CGST and ₹ 52,815 crores for the SGST,” the release added.

In October, the Ministry said, revenues from import of goods were 39 per cent higher and the revenues from domestic transactions (including import of services) were 19 per cent higher against the same period last year.

The Ministry also said that the figures are “very much in line with the trend in economic recovery.”

Rajesh Sarraf

eTax Info is a platform for Individuals, Businesses & Professionals. Managed by Rajesh Sarraf, where you can learn your taxes and finance easily.

http://etaxinfo.in

1 thought on “GST Revenue Collected in the Month of October 2021 is ₹ 1,30,127 Crore

Leave a Reply

Your email address will not be published.