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Budget 2021

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  • SMCSamsungVolvo
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August GST collection stands at Rs 86,449 crore

GST collection for the month of August last year stood at Rs 98,202 crore

September 02, 2020 / 08:25 PM IST

Goods and Services tax (GST) collection for the month of August stood at Rs 86,449 crore, slightly less than Rs 87,422 crore collected in July, and down 12 percent from last year, the government said on September 1.

GST collection for the month of August last year stood at Rs 98,202 crore.

While Rs 15,906 crore was collected through Central Goods and Services Tax (CGST), Rs 21,064 crore was collected in State Goods and Services Tax (SGST). Integrated Goods and Services Tax (IGST) collected in the month was Rs 42,264 crore, which includes Rs 19,179 crore collected on import of goods.

The total cess collection was Rs 7,215 crore, including Rs 673 crore collected on import of goods.

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COVID-19 Vaccine

Frequently Asked Questions

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A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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The government said it has settled Rs 18,216 crore to CGST and Rs 14,650 crore to SGST from IGST as regular settlement.

"The total revenue earned by the central government and the state governments after regular settlement in August is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST," the release said.
Moneycontrol News
first published: Sep 1, 2020 07:01 pm
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