In August 2021, the Gross GST revenue collected is ₹ 1,12,020 crore of which CGST is ₹ 20,522 crore, SGST is ₹ 26,605 crore, IGST is ₹ 56,247 crore (including ₹ 26,884 crore collected on import of goods) and Cess is ₹ 8,646 crore (including ₹ 646 crore collected on import of goods).
“The government has settled Rs 23,043 crore to CGST and Rs 19,139 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled Rs 24,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs. The total revenue of Centre and the States after regular and ad-hoc settlements in the month of August 2021 is Rs 55,565 crore for CGST and Rs 57,744 crore for the SGST,” said the Ministry of Finance in a statement.
The revenues for the month of August 2021 are 30% higher than the GST revenues in the same month last year. During the month, the revenues from the domestic transactions (including import of services) are 27% higher than the revenues from these sources during the same month last year. Even as compared to the August revenues in 2019-20 of ₹ 98,202 crores, this is a growth of 14%.
The Ministery said, “GST collection, after posting above Rs 1 lakh crore mark for nine months in a row, dropped below Rs 1 trillion in June 2021 due to the second wave of covid. With the easing out of Covid restrictions, GST collection for July and August 2021 have again crossed Rs 1 trillion, which clearly indicates that the economy is recovering at a fast pace. Coupled with economic growth, anti-evasion activities, especially action against fake billers, have also been contributing to the enhanced GST collections. The robust GST revenues are likely to continue in the coming months too.”
The last date for availing of the GST amnesty scheme where taxpayers pay a reduced fee for late filing of monthly returns has been extended by the Ministry of Finance till November 30, 2021. Previously, August 31, was the last date for submitting GST returns with reduced late fees.
State-wise growth of GST Revenues during August 2021
The gross GST revenue collected in the month of August 2021 is ₹1,12,020 crore. The revenues for the month of August 2021 are 30% higher than the GST revenues in the same month last year. @FinMinIndia pic.twitter.com/WxW2ybfowG
— Prasar Bharati News Services & Digital Platform (@PBNS_India) September 1, 2021
