GST Revenue Collection for the month of August 2021

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Ministry of Finance declared GST revenue collection for the month of August 2021. The Gross total revenue collected during the month is Rs 1,12,020 crores, out of which CGST is Rs 20,522 crores, SGST is Rs 26,605 crores, ISGT is Rs 56,247 crores (including Rs 26,884 crores collected on import of goods and Cess is Rs 8,646 crores (including Rs 646 crores collected on import of goods).

Following are the main highlights of the notifications.

The Government has settled Rs 23,043 crores to CSGT and Rs 19,139 crores to SGST from IGST as regular settlement.
Centre has also settled Rs 24,000 crores as IGST ad-hoc settlement in ratio of 50:50 between Centre and State/UT’s
The revenue for the month of August 2021 are 30% higher that the GST revenue in the same month last year. Revenue from Domestic transactions including import of services are 27% higher than revenue collection of last year same month.
GST collection, after posting above Rs 1 Lakh crore mark for the nine month in a row, dropped below Rs 1 Lakh crore in June 2021 due to second wave of COVID. With ease of COVID restrictions, the GST collection for July 2021 and August 2021 again crossed Rs 1 Lakh crore, which clearly indicate that economy is recovering fast .

Please refer below link for state-wise figures of GST collected in each State during the month of August 2021

https://pib.gov.in/PressReleasePage.aspx?PRID=1751048