New Delhi: The Goods and Services Tax (GST) collections has reached 1.05 lakh crore, for the first time since February. It gives enough hints that economic activity is on the uptick since pre-Covid-19 levels.
Out of gross GST revenue collected CGST is 19,193 crore rupees, SGST is 25,411 crore rupees, IGST is 52,540 crore rupees including 23,375 crore rupees collected on import of goods and Cess is 8,011 crore rupees including 932 crore rupees collected on import of goods.
The total number of GSTR-3B Returns filed for October upto yesterday is 80 lakh. The government has settled 25,091 crore rupees to CGST and 19,427 crore to SGST from IGST as regular settlement.
The revenues for the month are 10 per cent higher than the GST revenues earned in October last year.
During the month, revenues from import of goods was 9 per cent higher and the revenues from domestic transaction including import of services are 11 per cent higher than the revenues from these sources during the same month last year.
The growth in GST revenue as compared to that in months of July, August and September this year of minus 14 per cent, minus 8 per cent and 5 per cent clearly shows the trajectory of recovery of the economy and, correspondingly, of the revenues.