New Delhi: GST collection in August rose by 30 per cent to Rs 1.12 lakh crore over the same period last year. However, August’s GST collection is less than July’s GST collection of Rs 1.16 lakh crore.
CGST contributed Rs 20,522 crore, SGST Rs 26,605 crore and IGST Rs 56,247 crore in the August GST collection. Of this, GST of Rs 26,884 crore has come under import tax. Of this, cess is Rs 8,464 crore. The finance ministry said GST collection was 30 per cent higher this year as compared to the same period last year.
Figures from the GST collection in August show that the economy is rapidly recovering. Earlier, in July 2021, GST collection had increased by 33 per cent to Rs 1.16 lakh crore. In June, GST collection was less than Rs 1 lakh crore, or Rs 92,849 crore.
The Finance Ministry has extended the date for availing the benefit of tax exemption scheme under GST till November 30. The project was to be completed on August 31. The government has also extended the deadline to apply for deregistration to September 30. The deadline to apply for deregistration is between March 1, 2020 and August 2021.