Rs. 1,10,828 crore GST Gross Revenue collected for January, 2020

The gross GST revenue collected in the month of January, 2020 is Rs. 1,10,828 crore of which CGST is Rs. 20,944 crore, SGST is Rs. 28,224 crore, IGST is Rs. 53,013 crore (including Rs. 23,481 crore collected on imports) and Cess is Rs. 8,637 crore (including Rs. 824 crore collected on imports). The total number of GSTR 3B Returns filed for the month of December up to 31st January, 2020 is 83 lakh (prov).

The government has settled Rs. 24,730 crore to CGST and Rs. 18,199 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of January, 2020 is Rs. 45,674 crore for CGST and Rs. 46,433 crore for the SGST.

The GST revenues during the month of January, 2020 from domestic transactions has shown an impressive growth of 12% over the revenue during the month of January, 2019. Taking into account the IGST collected from imports of goods, the total revenue during January, 2020 has increased by 8% in comparison to the revenue during January, 2019. During this month, the IGST on import of goods has shown a negative growth of (-) 3% as compared to January, 2019. This is only second time since introduction of GST that the monthly revenues have crossed Rs. 1.1 lakh crore and sixth time during the year it has crossed Rs. 1 lakh crore.

Source : Equity Bulls

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