GST collection falls to Rs. 85,174 cr in February
GST collections slid for the second straight month to Rs. 85,174 crore in February as only 69% of the assessees filed returns. Around 59.51 lakh GSTR 3B returns were filed for the month of February till March 25. This is 69% of total taxpayers who are required to file monthly returns, the Finance Ministry said in a statement. Here's more.
The amount has been garnered as Central and State GST
"The total revenue received under GST for February 2018 (received up to March 26) has been Rs. 85,174 crore," the statement said. Of the Rs. 85,174cr collected as GST for February, Rs. 14,945 crore has been garnered as Central GST and Rs. 20,456 crore as State GST. Besides, Rs. 42,456 crore has been collected as Integrated GST and Rs. 7,317 crore as compensation cess.
Rs. 25k crore is being transferred from IGST to CGST/SGST
The collection in January was Rs. 86,318 crore, while in December and November was Rs. 88,929 crore and Rs. 83,716 crore respectively. A total amount of Rs. 25,564 crore is being transferred from IGST to CGST/SGST account by way of settlement. "Thus, the total collection of CGST and SGST up to 26th March (for February) is Rs. 27,085 crores and Rs. 33,880 crore respectively."
1.05 crore taxpayers have registered under GST
Till March 25, 1.05 crore taxpayers have registered under GST. Of these, 18.17 lakh are composition dealers that are required to file returns every quarter and rest 86.37 lakh taxpayers are required to file monthly returns. According to Finance Ministry, GST collections were Rs. 93,590 crore in July, Rs. 93,029 crore in August, Rs. 95,132 crore in September and Rs. 85,931 crore in October.
