GST collection crosses Rs 1.4 lakh crore for 7th consecutive month, registers a growth of 26% in September
This is the 8th month since the implementation of GST when the GST collection has crossed Rs 1.4 lakh crore. September’s total collection has reached close to Rs 1.5 lakh crore
GST collection crosses Rs 1.4 lakh crore for 7th consecutive month
With the coming out of the impact of the epidemic, the government’s income has started to see stability. 7th consecutive month in September GST Collection has crossed Rs 1.4 lakh crore. The Finance Ministry gave this information today. According to the ministry, the GST collection in the month of September has reached Rs 1.47 lakh crore, an increase of 26 percent over the previous year. With this, the number of e-bills and e-invoices has also crossed 11 million in the month of September. In April itself, the total GST collection was Rs 1.67 lakh crore, which is a record level till date.
What is GST figures
According to the data released by the Finance Ministry, the gross revenue from GST in the month of September has been Rs 1,47,686 crore. This is the 8th month since the implementation of GST when the GST collection has crossed Rs 1.4 lakh crore. In this collection, CGST has been Rs 25271 crore, SGST Rs 31813 crore, IGST Rs 80464 crore and Cess Rs 10137 crore. The total collection for the month of September has been 26 percent more than the same month last year. During September itself, there has been a collection of Rs 49453 crore in a single day, which is the second largest collection on any day.
If we look at the GST collection according to the states, Bihar has seen a growth of 67 percent compared to last year. There has been a growth of 61 percent in Nagaland. Maharashtra has topped in terms of GST collection. Where there has been a collection of Rs 21403 crore during the month.
How was the collection in this financial year
The beginning of this financial year was quite a bang when the GST collection in April reached a record Rs 1,67,540 crore. At the same time, the collection in the month of May stood at Rs 1,40,885 crore, which was the lowest figure in this financial year. In the month of June, the collection reached Rs 1,44,616 crore with a growth of 56 percent. The fastest growth was in June compared to last year. The collection in July has been Rs 1,48,995 crore and in August the collection has been Rs 1,43,612 crore.