GST Revenue Collection for March, 2020

GST Revenue Collection for March, 2020

₹ 97,597 Crore of gross GST revenue collected

The gross GST revenue collected in the month of March, 2020 is ₹ 97,597crore of which CGST is ₹ 19,183 crore, SGST is ₹ 25,601 crore, IGST is ₹ 44,508 crore (including ₹ 18,056 crore collected on imports) and Cess is ₹ 8,306 crore (including ₹ 841 crore collected on imports). The total number of GSTR-3B Returns filed for the month of February up to 31^st March, 2020 is 76.5 lakh.

The government has settled ₹ 19,718 crore to CGST and ₹ 14,915 crore to SGST from IGST as regular settlement. Inaddition,Centre has also apportioned unsettled balance IGST of ₹ 6000 crores on ad-hoc basis in the ratio of 50:50 between centre and States/UTs.The total revenue earned by Central Government and the State Governments after regular settlement in the month of March, 2020 is ₹ 41,901 crore for CGST and ₹ 43,516 crore for the SGST.

The GST revenues during the month of March, 2020 from domestic transactions has shown anegative growth of 4% over the revenue during the month of March, 2019. Taking into account the GST collected from import of goods, the total revenue during March, 2020has also decreased by 8% in comparison to the revenue during March, 2019. During this month, the GST on import of goods has shown a negative growth of (-) 23% as compared to March, 2019.

For the full financial year, 2019-20, the GST for domestic transaction has shown a growth rate of 8% over the revenues during last year. During the year, GST from import on goods fell down by 8% as compared to last year. Overall, gross GST revenues grew at 4% over the last year’s GST revenue.

The chart shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of March, 2020 as compared to March, 2019 and for the full year.

State-wise GST Collections during March 2020