GST collections cross ₹ 1 lakh crore in Oct for first time in 8 months

The total number of GSTR-3B returns filed till October 31, 2020, is 80 lakh.

GST collections in October stood at over ₹ 1.05 lakh crore, crossing for the first time ₹ 1 lakh crore mark since February this year, the finance ministry said on Sunday.

The gross GST revenue collected in the month of October 2020 is ₹ 1,05,155 crore of which CGST is ₹ 19,193 crore, SGST is ₹ 5,411 crore, IGST is ₹ 52,540 crore (including ₹ 23,375 crore collected on import of goods) and cess is ₹ 8,011 crore (including ₹ 932 crore collected on import of goods), the ministry said in a statement.

The revenue for the month is 10% higher than ₹ 95,379 crore collected in the same month last year.

The Goods and Services Tax (GST) collections fell from the psychologically important ₹ 1 lakh crore mark as the lockdown imposed to contain the COVID-19 spread dented economic activity.


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