GST Collection Hits 5-Month High At 1.17 Lakh Crore In September 2021

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GST revenue collection touched a five-month high in September 2021

The gross goods and services tax (GST) revenue collected in September 2021 touched a five-month high at Rs 1.17 lakh crore, remaining above the Rs 1 lakh crore mark for the third month in a row, said the Ministry of Finance in a statement released on Friday, October 1. The GST revenue collected last month is the highest in five months since April, when revenue was at a record high of Rs 1.41 lakh crore.

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The record-high collection has raised expectations that the second half of the year will post higher revenues. The tax collections in September 2021 on goods sold and the services rendered was 23 per cent higher than Rs 95,480 crore collected in the corresponding month last year, and 27 per cent higher than Rs 91,916 crore collected in September 2019.

Out of the gross GST revenue – Rs 1,17,010 crore, collected in September, the central GST is Rs 20,578 crore and the state GST is Rs 26,767 crore. Also, the integrated GST is Rs 60,911 crore (-including Rs 29,555 crore collected on import of goods) and the cess is Rs 8,754 crore (-including Rs 623 crore collected on import of goods), according to data by the finance ministry.

GST collection in August and July this year stood at Rs 1.12 lakh crore and Rs 1.16 lakh crore, respectively.

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