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Economy

GST Collections Cross Rs 1 Lakh Crore in October for First Time Since February

The revenue for the month is 10% higher than Rs 95,379 crore collected in the same month last year.

New Delhi: Goods and services tax (GST) collections in October stood at over Rs 1.05 lakh crore, crossing for the first time Rs 1 lakh crore mark since February this year, the finance ministry said on Sunday.

The total number of GSTR-3B returns filed till October 31, 2020, is 80 lakh.

The gross GST revenue collected in the month of October 2020 is Rs 1,05,155 crore of which central goods and service tax (CGST) is Rs 19,193 crore, state goods and service tax (SGST) is Rs 5,411 crore, integrated goods and service tax (IGST) is Rs 52,540 crore (including Rs 23,375 crore collected on import of goods) and cess is Rs 8,011 crore (including Rs 932 crore collected on import of goods), the ministry said in a statement.

The revenue for the month is 10% higher than Rs 95,379 crore collected in the same month last year.

The GST collections fell from the Rs 1 lakh crore mark as the lockdown imposed to contain the COVID-19 spread dented economic activity.