GST collection increases to one lakh crore in January
The data from the Ministry of Finance shows that goods and services tax collections stood at Rs. 1,02,503 crore in the month of January. Of the Rs. 1,02,503 crore GST revenue, Central GST is Rs 17,763 crore, State GST (SGST) is Rs 24,826 crore, Integrated GST (IGST) is Rs 51,225 crore (including Rs. 24,065 crore collected on imports) and Cess is Rs 8,690 crore.
Rs 18,344 crore has been allocated to CGST and Rs 14,677 crore to SGST from IGST as a regular settlement. The total revenue for the central government and state governments after regular settlement in December 2018 is Rs 36,107 crore for CGST and Rs 39,503 crore for SGST.
The revenue has increased from Rs 94,725 crore in December 2018, and 14 per cent higher than January 2018 collection of Rs 89,825 crore.
Trends in GST collectionFor the third time in current fiscal, the revenues from Goods and Services Tax (GST) has crossed Rs 1 lakh crore mark. Earlier in April and October, the collections had surpassed Rs 1 lakh crore. GST collection stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September, Rs 1,00,710 crore in October, Rs 97,637 crore in November and Rs 94,725 crore in December 2018.