Month-wise Goods & Services Tax (GST) collections

TG Team 03 Aug 2018 14,946 Views 0 comment Print Goods and Services Tax | News

Goods & Services Tax collections

The Government maintains month-wise data of Goods & Services Tax collection. The details of collections from July, 2017 to June 2018 are at Annexure.

The accounting of GST collections in the Central Government is done on the cash basis. Accordingly, the accounting with regard to CGST, IGST and Compensation Cess is done upon the happening of actual event of collections, refunds and settlements. The details are at Annexure.

The Government maintains the data of IGST collected and apportioned. The month-wise details are at Annexure.

Apart from the regular monthly IGST settlement, the Government has done provisional settlement of un-apportioned IGST lying with the Centre of a total of Rs. 85000 crores (Rs 35,000 in month of February, 2018 and Rs. 50,000 crore in month of June, 2018) equally between Centre and States.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a Written Reply to a Question in Lok Sabha.

The Government maintains month-wise data of Goods & Services Tax collection. The details of collections from July, 2017 to June 2018 are at Annexure.

The Government maintains the data of IGST collected and apportioned. The month-wise details are at Annexure.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a Written Reply to a Question in Lok Sabha today.

Annexure

Figures in Rs. Crore

		CGST				IGST				Comp. Cess		Total Net
Month	Gross	Refund	Settle-ment	Net	Gross	Refund	Settle-ment	Net	Gross	Refund	Net
			(+)				(-)
July	10			10	20958			20958	593		593	21561
August	15252		3297	18549	49968		10978	38990	7156		7156	64695
September	15131		5081	20212	48930		15933	32997	8024		8024	61233
October	14962		7855	22817	47995	76	21144	26775	8032		8032	57624
November	13690		10145	23836	42694	48	24027	18619	7103		7103	49557
December	13928	86	10348	24190	42765	805	24835	17125	7922	23	7898	49213
January	14874	287	8583	23170	45338	2247	23651	19441	8070	21	8049	50660
February	14763	511	28827	43079	42382	2325	59806	-19749	8196	23	8172	31502
March	16266	1015	12140	27390	46326	7294	25564	13468	7520	42	7478	48336
Total	118876	1899	86275	203253	387356	12794	205938	168623	62614	109	62505	434381

GST Collection (FY 2018-19)

		CGST				IGST				Comp. Cess		Total Net
Month	Gross	Refund	Settle-ment	Net	Gross	Refund	Settle-ment	Net	Gross	Refund	Net
			(+)				(-)
April	18653	392	13841	32102	50548	1852	28395	20301	8554	16	8538	60942
May	15866	681	12931	28116	49120	5800	25261	18060	7339	75	7265	53440
June (FF)	15968	593	15676	31052	49498	9223	30338	9937	8122	105	8017	49005
Total	50487	1666	42448	91270	149166	16875	83993	48298	24015	195	23820	163388

Revenue from the Goods and Services Tax (GST) touched Rs. 7.19 lakh crore between August, 2017 and March, 2018.

The revenue from the Goods and Services Tax (GST) touched Rs. 7.19 lakh crore between August, 2017 and March, 2018. The Monthly Revenue Average from GST was at Rs. 89,885 crore for the said period.

The details of month-wise Goods & Services tax collection are as follows:

		Table
				Figures in Rs Crores

	MONTH		Total collection
	Aug-17		95,633
	Sep-17		94,064
F.Y.2017-18	Oct-17		93,333
	Nov-17		83,780
	Dec-17		84,314
	Jan-18		89,825
	Feb-18		85,962
	Mar-18		92,167
	Total		7,19,078
	Average		89,885

The introduction of e-way bill is expected to improve overall Goods and Services Tax (GST) compliance. The Gross Revenue Collection in the month of April, 2018 (Rs.1,03,459 crore), May, 2018 (Rs. 94,016 crore), June, 2018 (Rs. 95,610 crore) and July, 2018 (Rs. 96,483) which is higher than the monthly average of GST collection in the last financial year FY 2017-18 i.e. Rs 89,885 crore.

This was stated by Shri Shiv Pratap Shukla,, Minister of State for Finance in a Written Reply to a Question in Lok Sabha today.