The government’s collection of Goods and Services Tax (GST) climbed to ₹ 95,480 crore in September, in signs of economic revival and return of demand due to lifting of COVID-19-related restrictions. That marked the highest level of GST collection in a month since the beginning of the lockdown to curb the spread of GST. The latest reading was 4 per cent higher compared to the corresponding month last year, and nearly three-times the mop-up in April 2020.
Gross GST revenue collected in September 2020 stood at ₹ 95,480 crore, the Finance Ministry in a statement. That included collection of ₹ 17,741 crore under Central GST, ₹ 23,131 crore under State GST, and ₹ 47,484 crore under Integrated GST.
The September tally also included the collection of ₹ 22,442 crore on import of goods, and cess of ₹ 7,124 crore (including ₹ 788 crore collected on import of goods), according to official data.
GST collections were at ₹ 86,449 crore in August, Rs 87,422 crore in July, Rs 90,917 crore in June, ₹ 62,151 crore in May and ₹ 32,172 crore in April.
The government imposed a nationwide lockdown from March 25 to curb the spread of COVID-19 infections, and started easing restrictions in late May.
A modest increase in GST collections (year-on-year) indicates that the economic recovery process is underway, with some key large states also reporting increased collections,” said MS Mani, senior director at Deloitte India.