Assam: GST rises 41.21% in Oct 2020, Finance Minister calls it "huge"

Guwahati: Assam Finance, Health, and Education Minister Himanta Biswa Sarma has revealed that there has been an increment in GST collections in October 2020 as compared to October 2019. This is considered to be an achievement as there has been a record downturn in the economy due to the COVID-19 pandemic.

"Assam has registered GST revenue growth of 41.21 % in October 2020 (Rs 912.80 Cr ) in vis-a-vis October 2019 ( Rs 646.40 Cr) It's huge," Sarma wrote in a tweet.

Assam also witnessed a higher GST revenue collection in September 2020 than September of 2019, when the Corona was not a factor.

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While the Assam Government has added Rs. 757.94 crores to its coffers in September of 2020 via GST, the revenue collection in September of 2019 stood at Rs. 667.83 crores. Thus, the GST rose by around 13% in this same period.

Nationally, the gross GST revenue collected in the month of October, 2020 is ₹ 1,05,155crore of which CGST is ₹ 19,193 crore, SGST is ₹ 25,411 crore, IGST is ₹ 52,540 crore (including ₹ 23375crore collected on import of goods) and Cess is ₹ 8,011crore (including ₹932 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of October upto 31^stOctober, 2020 is 80 lakh.

The government has settled ₹ 25,091 crore to CGST and ₹ 19,427 crore to SGST from IGST as regular settlement.

The total revenue earned by Central Government and the State Governments after regular settlement in the month of October, 2020 is ₹ 44,285 crore for CGST and ₹ 44,839 crore for the SGST.

The revenues for the month are 10% higher than the GST revenues in the same month last year.

During the month, revenues from the import of goods was9% higher, and the revenues from the domestic transactions (including import of services) are11% higher than the revenues from these sources during the same month last year.

The growth in GST revenue as compared to that in months of July, August, and September 2020 of -14%, -8% and 5% respectively clearly shows the trajectory of recovery of the economy and, correspondingly, of the revenues.

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