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 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 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.

More Under Goods and Services Tax

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

June 2021
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930