Last Updated on Sep 7, 2021 by Manonmayi

The government collected ₹ 1.12 lakh cr as Goods and Services Tax (GST) for the month of August 2021. This is the second consecutive month of revenues that are higher than the ₹ 1 lakh cr mark. Collection for August 2021 was 30% higher than that of last year, which was ₹ 86,449 cr. However, when compared to July’s collection of ₹ 1,16 lakh cr, it is still low. 

Though the GST collection dropped below ₹ 1 lakh cr in June 2021 due to the second wave, the same was recovered the next month as the restrictions were eased in several parts of the country. Moreover, there has been a 14% growth as compared to the revenues from August 2019-2020. As the lockdown restrictions are easing more, the Finance Ministry is expecting GST revenues to grow further in the coming months. 

All thanks to restrictions easing in the southern states, Maharashtra, Karnataka, and Tamil Nadu have contributed over 30% to the growth, which is better than last August. Additionally, there have been improvements in the GST e-way bills to a daily average of 2.1 mn in July 2021. 


All in all, the total revenue after regular and ad hoc settlements for the month of August 2021 is ₹ 55,565 cr for CGST and ₹ 57,744 cr for SGST. And the revenues from the domestic transaction are 27% higher than that of last year during the same period.

Manonmayi
guest
0 Comments
Inline Feedbacks
View all comments
55,00,000+ users trust Tickertape for Investment Analysis!
55,00,000+ users trust Tickertape for Investment Analysis!
55,00,000+ users trust Tickertape for Investment Analysis!
55,00,000+ users trust Tickertape for Investment Analysis!

The blog posts/articles on our platform are purely the author’s personal opinion and do not necessarily represent the views of Anchorage Technologies Private Limited (ATPL) or any of its associates. The content in these posts/articles is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, please consult a professional financial or tax advisor. The content on our platform may include opinions, analysis, or commentary, which are subject to change, without notice, based on market conditions or other factors. Further, the use of any third-party websites or services linked on the website is at the user's discretion and risk. ATPL is not responsible for the content, accuracy, or security of external sites. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The examples and/or securities quoted (if any) are for illustration only and are not recommendatory. Any reliance you place on such information is strictly at your own risk. In no event will ATPL be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

By accessing this platform and its blog section, you acknowledge and agree to the Terms and Conditions of this website, Privacy Policy and Disclaimer.