Business Economy 27 Sep 2017 GST mop up sees dip ...

GST mop up sees dip in August to Rs 90,670 crore

DECCAN CHRONICLE.
Published Sep 27, 2017, 1:11 am IST
Updated Sep 27, 2017, 1:22 am IST
The statement further said that there are still a number of assessees who have not filed their returns either for July or August 2017.
Finance Minister Arun Jaitley (Photo: PTI)
 Finance Minister Arun Jaitley (Photo: PTI)

New Delhi: Finance ministry said on Tuesday that tax collection from GST came at Rs 90,669 crore in the second month of the new indirect tax regime rollout.

The ministry revised its GST collection for July to Rs 94,063 crore from  the initial projection of Rs 92,283 crore as “many assessees have been filing the returns for July 2017 belatedly”.  

 

July was the first month when the GST was implemented in the country. 

“The total revenue of GST paid under different heads (up to September 25, 2017) is Rs 90,669 crore,” an official statement said, adding these figures do not include GST paid by 10.24 lakh assessees who have opted for composition scheme.

Out of this total Central GST revenue is Rs 14,402 crore,  state GST (SGST) revenue is Rs 21,067 crore, Integrated GST (IGST) revenue is Rs 47,377 crore (of which IGST from imports in August 2017 is Rs 23,180 crore) and compensation cess is Rs 7,823 crore (of which Rs 547 crore is compensation cess from imports in August 2017).

 

It is to be noted that the last date for payment of GST as well as filing of GSTR 3B return for the month of August was September 20, 2017. 

The statement further said that there are still a number of assessees who have not filed their returns either for July or August 2017. 

The increase in the above stated figures will be informed in due course, it said. Total number of taxpayers who were supposed to file monthly returns for August is 68.20 lakh, of which, as on September 25, 37.63 lakh GSTR 3B returns have been filed, it said.

 

The GST was implemented across the country in place of more than a dozen central and state levies like excise duty, service tax and VAT was implemented from July 1. In July, the GST collection was Rs 92,283 crore from 64.42 per cent of the total taxpayer base.

Of this, as much as Rs 14,894 crore has come in from the Central GST, Rs 22,722 crore from SGST, Rs 47,469 crore from IGST and Rs 7,198 crore from compensation cess levied on demerit and luxury goods.

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