₹1,30,127
crore gross GST Revenue Collected in October
·
GST Collection for October 2021 Registered the Second Highest since
Implementation of GST in 2021
·
Revenues for the month of October 2021 are 24% Higher than the GST
Revenues in the same month last year and 36% Over 2019-20
The gross GST revenue collected in the month of
October 2021 is ₹1,30,127 crore of which CGST
is ₹ 23,861 crore, SGST is ₹ 30,421 crore, IGST is ₹
67,361 crore (including ₹ 32,998 crore collected on import of goods) and
Cess is ₹ 8,484 crore (including ₹
699 crore collected on import of goods).
The government has settled ₹27,310 crore
to CGST and ₹ 22,394 crore to SGST from IGST as regular settlement. The total
revenue of Centre and the States after regular settlements in the month of October
2021 is ₹ 51171 crore for CGST and ₹ 52,815 crore for the SGST.
The revenues for the month of October 2021 are
24% higher than the GST revenues in the same month last year and 36% over 2019-20.
During the month, revenues from import of goods was 39% higher and the revenues
from domestic transaction (including import of services) are 19% higher than the
revenues from these sources during the same month last year.
The GST revenues for
October have been the second highest ever since introduction of GST, second only
to that in April 2021, which related to year-end
revenues. This is very much in line with
the trend in economic recovery. This is also evident from the trend in the e-way
bills generated every month since the second wave. The revenues would have still
been higher if the sales of cars and other products had not been affected on account
of disruption in supply of semi-conductors. Chart 1 shows the upward trend in number of e-way bills generated during the
month and the amount of taxable value clearly indicating the recovery in economic
activity.
The revenues have also been aided due to the efforts
of the State and Central tax administration resulting in increased compliance over
previous months. In addition to action against
individual tax evaders, this has been a result of the multipronged approach followed
by the GST Council. On one hand, various measures have been taken to ease compliance
like nil filing through SMS, enabling Quarterly Return Monthly Payment (QRMP) system
and auto-population of return. During past one year, GSTN has augmented the system
capacity considerably to improve user experience. On the other hand, the Council
has also taken various steps to discourage non-compliant behaviour,
like blocking of e-way bills for non-filing of returns, system-based suspension
of registration of taxpayers who have failed to file six returns in a row and blocking
of credit for return defaulters. Number of returns (GSTR-3B) of every month/quarter
by the end of next month is a good parameter indicating timely payment of returns
and filing of returns. After last date of filing of returns, special efforts are
undertaken to ensure compliance by the end of the month in form of messaging by
GSTN and close follow up by the Centre and State tax administration. Chart 2
showing the upward trend in percentage of returns filed till the end of next
month clearly indicates that timely payment of taxes has been increasing
over a period of time due to policy measures and administrative efforts.
This has also been aided by the fact that at various occasions, Council
decided to waive late fee allowing people to file old returns and come up-to-date
in filing of returns. With more and more taxpayers filing the returns every month,
the percentage of returns of old period filed in any month has been increasing continuously.
Chart 3 shows the share of returns of the current period filed in every month
out of the total returns filed, clearly indicating that the number of returns of
the current month has increased considerably. 1.5 crore returns were filed in
the month of July 2021 as taxpayers filed returns of past months taking benefit
of the relaxation given due to Covid.
With improvement of return filing, the focus of
GST Council has been on timely filing of GSTR-1, the statement containing details
of invoices. This statement is critical to ensure discipline in taking input tax
credit. Various steps have been taken to ensure timely filing of GSTR-1. Chart
4 displaying GSTR-1 filing by the end of the month shows that these steps have brought
in the desired result as the percentage of GSTR-1 filed by the end of the month
is clearly showing an upward trend.
Overall, the impact of these efforts has ensured
increased compliance and higher revenues. As a part of overall efforts to plug evasion,
more steps to restrict fake ITC are under consideration of the GST Council. Chart
5 below shows the trend in monthly GST revenues during the year and the table shows
the state-wise breakup of GST revenues (excluding GST on import of goods). There
is a small difference between the monthly figures shown in the chart below for the
months of May and Jun and those included in the respective press notes as the figures
published then were till 5th of the next month as the taxpayers were
given relief in filing of returns till 5th of the next month due to the
pandemic.
State-wise growth of GST Revenues during October 2021[1]
|
State |
Oct-20 |
Oct-21 |
Growth |
|
Jammu
and Kashmir |
377 |
648 |
72% |
|
Himachal
Pradesh |
691 |
689 |
0% |
|
Punjab |
1,376 |
1,595 |
16% |
|
Chandigarh |
152 |
158 |
4% |
|
Uttarakhand |
1,272 |
1,259 |
-1% |
|
Haryana |
5,433 |
5,606 |
3% |
|
Delhi |
3,211 |
4,045 |
26% |
|
Rajasthan |
2,966 |
3,423 |
15% |
|
Uttar
Pradesh |
5,471 |
6,775 |
24% |
|
Bihar |
1,010 |
1,351 |
34% |
|
Sikkim |
177 |
257 |
45% |
|
Arunachal
Pradesh |
98 |
47 |
-52% |
|
Nagaland |
30 |
38 |
30% |
|
Manipur |
43 |
64 |
49% |
|
Mizoram |
32 |
32 |
1% |
|
Tripura |
57 |
67 |
17% |
|
Meghalaya |
117 |
140 |
19% |
|
Assam |
1,017 |
1,425 |
40% |
|
West
Bengal |
3,738 |
4,259 |
14% |
|
Jharkhand |
1,771 |
2,370 |
34% |
|
Odisha |
2,419 |
3,593 |
49% |
|
Chhattisgarh |
1,974 |
2,392 |
21% |
|
Madhya
Pradesh |
2,403 |
2,666 |
11% |
|
Gujarat |
6,787 |
8,497 |
25% |
|
Daman
and Diu |
7 |
0 |
-99% |
|
Dadra
and Nagar Haveli |
283 |
269 |
-5% |
|
Maharashtra |
15,799 |
19,355 |
23% |
|
Karnataka |
6,998 |
8,259 |
18% |
|
Goa |
310 |
317 |
3% |
|
Lakshadweep |
1 |
2 |
86% |
|
Kerala |
1,665 |
1,932 |
16% |
|
Tamil
Nadu |
6,901 |
7,642 |
11% |
|
Puducherry |
161 |
152 |
-6% |
|
Andaman
and Nicobar Islands |
19 |
26 |
40% |
|
Telangana |
3,383 |
3,854 |
14% |
|
Andhra
Pradesh |
2,480 |
2,879 |
16% |
|
Ladakh |
15 |
19 |
32% |
|
Other
Territory |
91 |
137 |
51% |
|
Centre
Jurisdiction |
114 |
189 |
66% |
|
Grand
Total |
80,848 |
96,430 |
19% |