GST Revenue Collections for the Financial Year 2017-18 

Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018

During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, Rs. 3.66 lakh crore of IGST (including Rs. 1.73 lakh crore on imports) and Rs. 62,021 crore of cess (including Rs. 5702 crore on imports). For this eight months, the average monthly collection has been Rs. 89,885 crore.

While the tax on domestic supplies in a month is collected through the process of returns and gets collected in the next month, IGST and cess on imports gets collected in the same month. Therefore, during the current year, GST on domestic supplies has been collected only in eight months from August 2017 to March 2018, IGST and cess on imports has been collected for nine months, from July 2017 to March 2018. Including the collection of July 2017, the total GST collection during the financial year 2017-18 stands provisionally at Rs. 7.41 lakh crore.

Suresh Nandlal Rohira, Partner, Grant Thornton India LLP  said that  The GST rollout in July 2017 was one the most ambitious moves by the current Government.  The entire Government machinery/ GST Council has been proactive in seeking stakeholder suggestions and making necessary changes under the GST laws/ framework to ensure smooth operations for taxpayers. The GST collection data released today for the 8 month period in 2017-18 goes to strengthen the Govt’s claim on successful GST rollout.   

The GST revenue collection of INR 7.41 lakh crore during the 9 month period, coupled with improvement in return filing compliance ratio and reduction in the revenue gap of each State over this period is a strong indicator of the fact that GST law is being widely accepted.”

Revenue of the States

The SGST collection during the year, including the settlement of IGST has been Rs. 2.91 lakh crore and the total compensation released to the States for a period of eight months during the last financial year was Rs. 41,147 crore to ensure that the revenue of the States is protected at the level of 14% over the base year tax collection in 2015-16. The revenue gap of each State is coming down over last eight months. The average revenue gap of all states for last year is around 17%.

Return Filing During the year

There has been a progressive improvement in the compliance level observed during the course of the year. Following table shows the percentage of returns filed as on due date and the cumulative level of compliance.

Return Period Required to file Till due date Cumulative
Returns % Returns %
July ’17 6647581 3834877 57.69% 6388549 96.10%
Aug ’17 7370102 2725183 36.98% 6851732 92.97%
Sep ’17 7823806 3934256 50.29% 7109143 90.87%
Oct ’17 7721075 4368711 56.58% 6777440 87.78%
Nov ’17 7957204 4913065 61.74% 6765603 85.02%
Dec ’17 8122425 5426278 66.81% 6747887 83.08%
Jan ’18 8322611 5394018 64.81% 6694387 80.44%
Feb ’18 8527127 5451004 63.93% 6562362 76.96%
Mar ’18 8715163 5458728 62.63% 5630683 64.61%

As may be seen, the compliance level as on the due date has steadily increased and, by the end of the financial year, has reached to an average of 65% from around 55-57% observed during initial months. The cumulative compliance levels (percentage of returns filed till date) for initial months has crossed 90% and for July, 2018, has reached 96%.

There are State-wise variations in the compliance level observed till due date. However, including delayed filings, the State-wise compliance levels converge over a period of time.

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  1. Ashish says:

    Liberlisation and economic reforms today means only becoming harsh for middle class and becoming kind for rich industrialists. The govt who reduces subsidy for middle class is considered more proactive and futuristic.

  2. Naresh says:

    All this money will be utilized in upcoming elections to conduct 3D rally and campaign because anyway no one can tract this money. If the collection is in excess to the previous regime then the disbursement and the allocations too would have been in excess to the previous regime and then why the so called development is not in excess of previous regime. Beautification and glorification of existing structure doesn’t tantamount to development it’s merely a maintenance expenditure.

  3. S Kumar says:

    Govt after Govt is increasing taxes. The entrepreneur is wilting under the weght of taxes and compliances. Inflation in India is nothing but tax-pushed inflation! Govts are getting greedier, only to pay themselves and for winning elections. Need for more Independents to fight elections and speak-up in Parliament!!


    For between 60-70% collections alone shows 7.19 lakhs then how much collected 100%
    late fee seems 900crore
    all these money were it was utilised
    then why the promise was not fulfilled of our PM narendra modi, 15lakhs deposit for each citizen account.and Smallscale business peoples sufferrs with their cash flow since the GST 2was not finalised
    How the ITR 6 can be completed matching with turnover as per GST.

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