GST Revenue Crosses Rs 1 Lakh crore

The revenue collection from Goods and Services Tax has crossed Rs 1 lakh crore for the second time since the indirect tax regime was introduced in July last year.
GST mop-up had crossed the Rs 1 lakh crore mark for the first time in April.
A Finance Ministry statement said the total gross GST revenue collected in October, was little over Rs1 lakh crore. Out of which CGST (Central Goods and Services Tax) was Rs16,464 crore while SGST (State Goods and Services) and IGST (integrated Goods and Services Tax) contributed Rs 22,826 crore and Rs 53,419 crore respectively. Total collection trough cess was Rs 8,000 crore.

The revenue collected in October was higher by 6.64% against September's Rs 94,442 crore. The States which achieved strong growth in total taxes collected include Kerala (44%), Jharkhand (20%), Rajasthan (14%), Uttarakhand (13%) and Maharashtra (11%).

The GSTR 3B Returns filed for September up to October 31 was 67.45 lakh. The Government has settled Rs 17,490 crore to CGST and Rs15,107 crore to SGST from IGST as regular settlement.

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