April GST exceeds Rs 1 lakh crore, Arun Jaitley calls it a landmark achievement

New Delhi: Lauding the Goods and Services Tax (GST) collection in the month of April, Finance Minister Arun Jaitley on Tuesday said that it is a landmark achievement.  

Stating that GST collections would continue to show a positive trend, Jaitley, tweeted:

GST collections in April exceeding Rs. 1 lakh crore is a landmark achievement and a confirmation of increased economic activity as brought out by other reports — Arun Jaitley (@arunjaitley) May 1, 2018

GST collection in April surpassed Rs 1 lakh crore to Rs 1,03,458 crore.

The total gross GST revenue collected in the month of April stood at Rs 1,03,458 crore, consisting of Central GST (CGST) worth Rs 18,652 crore, State GST (SGST) of Rs 25,704 crore, Integrated GST (IGST) of Rs 50,548 crore (including 21,246 crores collected on imports) and cess of Rs 8554 crore (including Rs 702 crore collected on imports).

The finance minister in his tweet congratulated all taxpayers, members of the GST Council, state and central government tax administration for this achievement. He wrote:

I would like to congratulate all Taxpayers, Hon’ble Members of the GST Council, State and Central Government tax administration for this achievement — Arun Jaitley (@arunjaitley) May 1, 2018

The total number of GSTR 3B Returns filed for the month of March up to 30th April, 2018 is 60.47 lakh as against 87.12 lakh, who are eligible to file the Return for the month of March, which is 69.5 percent.

April was also the month for filing of quarterly return for Composition Dealers.  Out of 19.31 lakh Composition Dealers, 11.47 lakh have filed their Quarterly Return (GSTR 4) which is 59.40 percent and have paid total tax of Rs.579 crores, which is included in the above figure of Rs.1.03 lakh crore of total GST collection.

GST collections had hit a peak of Rs 95,132 crore for September. The government rolled out the GST regime from July 1 last year.

The government mobilised Rs 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18, finance ministry data last week revealed.

Total compensation released to the states for a period of eight months during 2017-18 was Rs 41,147 crore to ensure that the revenue of the states is protected at the level of 14 percent over the base year tax collection in 2015-16.

With Agency Inputs