GST Collection Of Rs 1.12 Lakh Crore In August

GST collection of Rs 1.12 lakh crore in August, know the details: GST Collection in August. In August 2021 also, the GST collection crossed one lakh crore rupees.

Earlier in July also, the government had raised more than one lakh crore rupees through GST.

According to the data released by the Finance Ministry on Wednesday, there was a GST collection of Rs 1.12 lakh crore in August.

This figure is 30 percent more than the collection in the same month last year.

In a statement issued by the Finance Ministry, it has been said that in the month of August, a total GST collection of Rs 1,12,020 crore was done.

The statement said that the government will get Rs 20,522 crore as Central GST, Rs 26,605 crore as State GST.

Rs 56,247 crore as Integrated GST (including Rs 26,884 crore collected from import of goods), and Cess. 8,646 crore (including income of Rs 646 crore earned from import of goods)

This income in the form of GST to the government is less than the Rs 1.16 lakh crore collected in July 2021.

The income generated in August 2021 is 30 percent more than the income earned through GST in the same month of last year August 2020.

The government had raised revenue of Rs 86,449 crore through GST.

The ministry said that in August 2021, there was 14 percent more GST collection as compared to August 2019. The government had raised Rs 98,202 crore as GST in August 2019.

In August this year, income from domestic transactions (including imports and services) grew by 27 percent over the same period last year.

The GST collection had crossed Rs 1 lakh crore for nine consecutive months. After this, due to the second wave of Kovid-19, it had come down from the benchmark of Rs 1 lakh crore in June 2021.

Since the easing of restrictions related to Kovid-19, economic activities have picked up and this is clearly visible in the data of GST collections.

The GST collection of over Rs 1 lakh crore in the last two months shows that the economy is recovering at a fast pace.