GST collection crosses Rs 94,000 cr in September

Despite reduced tax rates on several items, revenue collection under the Goods and Services Tax (GST) stood at Rs 94,442 crore in September after sliding to Rs 93,960 crore in August.

"The revenue collected in September shows an upward trend as compared to the August collection," the Finance Ministry said.

The government had last month attributed the dip in tax revenues to "probable postponement" of sale of over 50 items, including refrigerators, washing machines and small televisions, on which tax rate was reduced by the GST Council at its July 21 meeting. The reduced rates were to come into effect from July 27.

"The actual impact of reduction of rate of taxes would be observed only from next month (September)," the Finance Ministry had then said.

Of the total gross revenue collected in September (for August), Rs 15,318 crore was collected as Central-GST (CGST), Rs 21,061 crore as state-GST (SGST) and Rs 50,070 crore as integrated-GST (IGST).

An additional Rs 7,993 crore was collected as cess, an official statement said.

"The total number of GSTR-3B returns filed for August up to September 30 was 67 lakh," it said.

"The total revenue earned by Central government and the state governments after settlement is Rs 30,574 crore for CGST and Rs 35,015 crore for the SGST."

--IANS

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