GST collection in April surpasses Rs 1 lakh crore to Rs 1,03,458 crore

The government rolled out the GST regime from July 1 last year.

GST collection in April surpasses Rs 1 lakh crore to Rs 1,03,458 crore

New Delhi: Goods and Services Tax (GST) collection in April surpassed Rs 1 lakh crore to Rs 1,03,458 crore, a Finance Ministry statement said on Tuesday.

The total gross GST revenue collected in the month of April stood at Rs 1,03,458 crore, consisting of Central GST (CGST) worth Rs 18,652 crore, State GST (SGST) of Rs 25,704 crore, Integrated GST (IGST) of Rs 50,548 crore (including 21,246 crores collected on imports) and cess of Rs 8554 crore (including Rs 702 crore collected on imports).

The total number of GSTR 3B Returns filed for the month of March up to 30th April, 2018 is 60.47 lakh as against 87.12 lakh, who are eligible to file the Return for the month of March, which is 69.5 percent.

April was also the month for filing of Quarterly Return for Composition Dealers.  Out of 19.31 lakh Composition Dealers, 11.47 lakh have filed their Quarterly Return (GSTR 4) which is 59.40 percent and have paid total tax of Rs.579 crores, which is included in the above figure of Rs.1.03 lakh crore of total GST collection.

GST collections had hit a peak of Rs 95,132 crore for September. The government rolled out the GST regime from July 1 last year.

The government mobilised Rs 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18, finance ministry data last week revealed.

"During the year 2017-18, total revenue collections under GST in the period between August 2017 and March 2018 has been Rs 7.19 lakh crore. Including the collection of July, 2017, the total GST collections during the 2017-18 stands provisionally at Rs. 7.41 lakh crore," the Finance Ministry said in a tweet.

"This includes Rs 1.19 lakh crore of CGST, Rs.1.72 lakh crore of SGST, and Rs 3.66 lakh crore of IGST (including Rs 1.73 lakh crore on imports) and Rs 62,021 crore of cess (including Rs 5,702 crore on imports)," it said.

The average monthly collection has been Rs 89,885 crore during the August-March period, it said.

Total compensation released to the states for a period of eight months during 2017-18 was Rs 41,147 crore to ensure that the revenue of the states is protected at the level of 14 percent over the base year tax collection in 2015-16.

The Revenue Gap of each state is coming down over the last eight months, it said, adding the Average Revenue Gap of all the states for the last year is around 17 percent.

With Agency Inputs

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