The Goods and Services Tax (GST) revenue collections for December 2019 has reached Rs 1.03 lakh crore, an increase of 9% from December 2018.
This is the second month in a row that GST collections has surpassed Rs 1-lakh crore mark.
GST in Numbers December 2019:
- CGST (Central GST) – Rs 19,962 crore
- SGST (State GST) – Rs 26,792 crore
- IGST (Integrated GST) – 48,099 crore
- Cess – Rs 8,331 crore
- GST Returns filed for November to December – Rs 81.21 lakh
The GST revenue for December 2019 from domestic transactions witnessed a 16% growth over December 2018.
Top States in GST Collection December 2019:
- Maharashtra – Rs 16,530 crore
- Karnataka – Rs 6,886 crore
- Tamil Nadu – Rs 6,422 crore
State-wise GST Collection for the month of December 2018 Vs 2019
The higher GST revenue collections are implying the improvement in consumption activities and enhanced performance by prominent industries during the period.
The increased GST collections are a prime indication for the betterment of economic situation in the near future.
Trends in GST Collection FY 2018-19 Vs 2019-20
It’s imperative to mention that the Indian Government has taken significant steps in past few months to reach the target of Rs 1-lakh crore monthly GST collection. Revenue secretary Ajay Bhushan Pandey has instigated the senior officials to work for the target.