GST
Collections Jumped in Last Month Financial Year 2018-19
Total Gross GST revenue collected in the month of March, 2019
is Rs. 1,06,577 crore
of which CGST is Rs. 20,353 crore, SGST is Rs.27,520 crore, IGST is Rs.50,418 crore (including Rs. 23,521crore collected on imports) and
Cess is Rs. 8,286 crore (including Rs. 891crore collected on imports). The total
number of GSTR 3B Returns filed for the month of February up to 31st March, 2019 is 75.95lakh.
The Government has settled Rs.17,261crore
to CGST and Rs. 13,689crore to SGST from IGST as regular
settlement. Further, Rs. 20,000crore has been settled
from the balance IGST available with the Centre on provisional basis in the ratio
of 50:50 between Centre and States. The total revenue earned by Central Government
and the State Governments after regular and provisional settlement in the month
of March, 2019 is Rs. 47,614 crore for CGST and Rs. 51,209 crore for the SGST.
The collection during March, 2019 has
been the highest since introduction of GST. The revenue in March,
2018 was Rs. 92,167crore and the revenue during March, 2019 is a growth of 15.6%
over the revenue in the same month last year. The revenue for the last quarter in the year 2018-19
is 14.3% higherthan
the revenue collected during the same period last year. The monthly average of GST
revenue during 2018-19 is Rs. 98,114 crore
which is 9.2% higher than FY 2017-18. These figures indicate
that the revenue growth has been picking up in recent months, despite various rate
rationalization measures.
The Chart below shows trends in revenue during the current year
as compared to the last year.
