Good News About The Country's Economy, GST Collection In August Exceeded Rs 1 Lakh Crore
Except for June 2021, the GST collection in all other months was more than one lakh crores.
GST Collection: Good news has come out about the country's economy. In the month of August, there has been a GST collection of more than one lakh crore rupees. This is 30 percent more than in August 2020. The last month's GST collection figure is also 14 percent higher than the corresponding period of the year 2019. This shows that the economic activity of the Corona epidemic is slowing down. The GST collection in August 2019 was Rs 98,202 crore.
CGST share stood at Rs 20,522 crore
According to experts, GST collection is related to the sale of goods. GST collection may increase if the sale of items increases. Which has an impact on the economy. According to the data of the Union Finance Ministry, the share of CGST in the total collection for August stood at Rs 20,522 crore. 26,605 crore has been collected as SGST, Rs 56,247 crore as IGST, and Rs 8,646 crore as Cess.
GST collection remained low in June
According to the Finance Ministry, except in June 2021, the GST collection in all other months was more than one lakh crores. Due to the second wave of Kovid-19, the GST collection in June this year was less than one lakh rupees. The government says that the GST collection of more than 1 lakh crore in July and August this year shows the recovery in the economy.
Recovery in petrol and electricity consumption too
Apart from GST, there has been a recovery in the consumption of petrol and electricity. The power consumption in August this year was higher than in August 2019. According to the data of the Ministry of Power, the consumption of electricity in August this year stood at 129.51 billion units. In August last year, 111.52 billion units of electricity were consumed. At the same time, according to government data, petrol sales stood at 24.3 lakh tonnes in August this year.