GST collection rises to Rs. 96,483 crore in July
GST collections rose to Rs. 96,483cr in July from Rs. 95,610cr mopped up in the previous month, the Finance Ministry said. The total number of sales return GSTR 3B filed for the month of July is 66L compared to 64.69L filed in June. Of this, central GST is Rs. 15,877cr, state GST (Rs. 22,293cr), integrated GST (Rs. 49,951cr), and cess is Rs. 8,362cr.
Rs. 3,899cr released to states as GST compensation for April-May'18
The Ministry said Rs. 3,899cr has been released to states as GST compensation for April-May 2018. The revenue collection figures don't reflect the impact of the recent tax rate cuts on 88 items. Tax rates on consumer durables like washing machines, mixer grinders, fridges, footwear up to Rs. 1,000, paints and varnishes, and sanitary napkins have been cut with effect from July 27.
