Gross GST collections in Aug down 1.11% month-on-month to Rs 86.449 cr

The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.

The revenues for August are 88 per cent of the GST collected in the same month last year.

In August 2019, Rs 98,202 crore was mopped up from Goods and Services Tax (GST).

Of the gross collection,Central Goods and Services Tax (CGST) is at Rs 15,906 crore, State Goods and Services Tax (SGST) Rs 21,064 crore, Integrated Goods and Services Tax (IGST) Rs 42,264 crore (including Rs 19,179 crore collected on import of goods) and Cess Rs 7,215 crore.

The government has settled Rs 18,216 crore to CGST and Rs 14,650 crore to SGST from IGST as regular settlement.

The total revenue earned by the central and state governments after regular settlement in August, 2020 is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST, the ministry said.