GST revenue collection Jumps in December to cross Rs 86703 crore

Total one crore taxpayers already have been registered in the New GST regime so far till 24-01-2018 among them 17.11 lakh composition dealers.

NEW DELHI: Goods and services tax (GST) receipts rose in December 2017, reversing the decline seen in the previous two months. The government expects GST revenue collection Jumps in the coming months as measures to raise compliance have begun to show results, officials said.

“Total GST  revenue collection for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018,” the finance ministry said in a statement.

According to PwC leader Pratik Jain, increase in GST revenue collection is on the expected lines and it means that gradually GST is stabilizing and transition issues are waning.

This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said.

The rollout of the e-way bill on the transport of goods having value more than Rs 50,000 from one state to another on PAN India basis from 1st February 2018, will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said.

GST revenue collection

Total collections under the GST in last Month had gone down for the second straight month to Rs 80808 crore, from the October month over Rs 83,000 crore. In September the collection was approx Rs 92,150 crore.

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