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GST Revenue Targets

The month-wise figures of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under:

(Amount in Rs. Crores)

Month  Collection
August, 2017  93,590
September, 2017  93,029
October, 2017  95,132
November, 2017  85,931
December, 2017  83,716
January, 2018  88,929
February, 2018  88,047
March, 2018  89,264

No targets for collection of GST have been fixed. In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and States and among States and mechanism of apportionment of fund under IGST.

As per provisions in Section 7 of the GST (Compensation to States) Act, 2017, the loss of revenue arising on account of implementation of GST regime and compensation for loss of revenue to the States shall be provisionally calculated and released at the end of every two months for five years. The GST Compensation paid to the States on bimonthly basis for the period of July 2017 to February, 2018 is as below: –

(Amount in Rs. Crores)

Period Amount of GST

compensation paid

July – August, 2017 10,806
Sept. – October, 2017 13,694
Nov. – Dec., 2017 3,898
Jan. – Feb., 2018 12,749

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today. (PIB)

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April 2024