GST collection in Oct crosses Rs 1 lakh cr, first time in 8 months || Hybiz Tv

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The goods and services tax (GST) collected in October rose to Rs 1.05 lakh crore, crossing the Rs 1 lakh crore mark for the first time since February this year, reflecting a pick-up in economic activity and demand.
The finance ministry in a statement said on Sunday that the total number of GSTR-3B returns filed till October 31, 2020, is 80 lakh.
The gross GST revenue collected in October 2020 is Rs 1,05,155 crore, of which CGST is Rs 19,193 crore, SGST is Rs 5,411 crore, IGST is Rs 52,540 crore (including Rs 23,375 crore collected on import of goods) and cess is Rs 8,011 crore (including Rs 932 crore collected on import of goods), the ministry said.
The revenues for the month are 10 percent higher than Rs 95,379 crore collected in the same month last year.
The GST collections fell from the psychologically important Rs 1 lakh crore mark as the lockdown imposed to contain the COVID-19 spread dented economic activity.

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