New Delhi: The government received Rs 1.03 lakh crore as GST collection in April. It is an indication of the new indirect tax regime being stable since July 1 last year. In the entire financial year 2017-18, collection of goods and services tax (GST) was 7.41 lakh crores.
This figure was Rs 89,264 crore in March. “The total gross GST revenue collection was Rs 1,03,458 crore in April 2018,” the finance ministry said in a statement.
It includes CGST 18,652 crores, SGST Rs 25,074 crores, IGST Rs 50,548 crores (of which Rs 21,246 crores are revenues earned from import). There is a cess of Rs 8,554 crores in which Rs 702 crores received from the import are included.
As central GST 32,493 crore deposits
An increase in GST collection tells the economy faster and better compliance. Although it is generally seen that in the last month of the financial year, people try to pay the dues of the previous month and that’s why the revenue of April 2018 can not be considered as a trend for the future.
After settlement in April 2018, the total revenue receipt of Central Government and State Governments was Rs 32,493 crore as central GST and Rs 40,257 crore in the form of state GST.
Till 30 April 69.5% returns were filed
As for the number of GSTR 3B returns for March, till April 30, a total of 69.5% filed returns. 60.47 lakhs filing returns for the March compared to 87.12 lakh total.
Of the total 19.31 million traders who took the composition scheme, 11.47 lakhs got GSTR-4 and paid a total of Rs 579 crore. It is included in the total GST collection of 1.03 lakh crores.