GST revenue collections at new high, total Rs 1.06 lakh crore in March
Gross revenue on account of Goods and Services Tax (GST) in March totalled Rs 106,577 crore, marking 15.6 per cent growth over the revenue in same month of previous year, the government said on Monday.
Of this, Central GST was Rs 20,353 crore, State GST Rs 27,520 crore, Integrated GST Rs 50,418 crore (including Rs 23,521 crore collected on imports) and cess Rs 8,286 crore (including Rs 891 crore collected on imports).
“The collection during March 2019 has been the highest since introduction of GST,” according to an official statement. The total number of GSTR 3B returns filed for February till March 31 was 75.95 lakh.
The government settled Rs 17,261 crore to Central GST and Rs 13,689 crore to State GST from Integrated GST as a regular settlement.
Further, Rs 20,000 crore was settled from the balance Integrated GST available with the Centre on provisional basis in the ratio of 50:50 between the Centre and states.
The total revenue earned by Central Government and state governments after regular and provisional settlement in March 2019 was Rs 47,614 crore for Central GST and Rs 51,209 crore for State GST.
The revenue in March 2018 was Rs 92,167 crore. In the last quarter of 2018-19, the revenue was 14.3 per cent higher than the revenue collected during the same period last year.
The monthly average of GST revenue during 2018-19 was Rs 98,114 crore which is 9.2 per cent higher than in 2017-18. The statement said the figures indicate that revenue growth has been picking up in recent months, despite various rate rationalisation measures. (ANI)
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