GST collection for September surges but fails to meet Rs 1 lakh-crore target

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The GST revenue collection for September crossed Rs 94,000 crore as compared to Rs 93,960 crore in August. The latest GST number remains broadly on expected lines but falls short of the Rs 1 lakh crore target, say analysts. The total gross GST revenue collected in September is Rs 94,442 crore, of which CGST (central tax) amounts to Rs 15,318 crore, SGST is Rs 21,061 crore, and IGST is Rs 50,070 crore.

In a statement, the Ministry of Finance said the IGST of Rs 50,070 crore includes Rs 25,308 crore collected on imports, and cess of Rs 7,993 crore (including Rs 769 crore collected on imports). The total number of GSTR 3B returns filed for August up to September 30 is 67 lakh.

The total revenue earned by the central government and the state governments after settlement in September is Rs 30,574 crore for CGST and Rs 35,015 crore for the SGST, the ministry said, adding the revenue collected in September shows an upward trend as compared to the August collection.