Home / GST / GST collections cross Rs 1 lakh crore milestone in April 2018

GST collections cross Rs 1 lakh crore milestone in April 2018

GST Revenue collection in the month of April 2018 exceeds Rs. 1 Lakh Crore
GST Revenue collection in the month of April 2018 exceeds Rs. 1 Lakh Crore

The Goods and Services Tax (GST) revenue collection for the month of April has topped Rs 1 lakh crore, in a first since the implementation of the indirect tax in July last year.

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% 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 in April exceeding Rs 1 lakh crore is a landmark achievement and a confirmation of increased economic activity as brought out by other reports,” the finance minister said.

According to the Ministry of Finance, the average monthly collection under the GST regime for the last eight months — August 2017-March 2018 — was Rs 89,885 crore.

“The total gross GST revenue collected in April 2018 is Rs 103,458 crore of which CGST (Central Goods and Services Tax) is Rs 18,652 crore, SGST (State Goods and Services Tax) is Rs 25,704 crore, IGST (Integrated Goods and Services Tax) is Rs 50,548 crore (including 21,246 crore collected on imports) and Cess is Rs 8,554 crore (including Rs 702 crore collected on imports),” the Ministry said in a statement.

The total revenue earned by the Central Government and the State Governments after settlement in the month of April, 2018 is Rs.32,493 crore for CGST and Rs.40,257 crore for the SGST.

As per the statement, the buoyancy in tax collection under the GST “reflects the upswing in the economy and better compliance”. “However, it is usually noticed that in the last month of the financial year, people also try to pay arrears of some previous months and, therefore, this month’s revenue cannot be taken as trend for the future,” the statement added.

About CA Junction

Check Also

CA exams postponed due to Lok Sabha polls

CA exam postponed, check revised dates.

Owing to the upcoming Lok Sabha elections, the chartered accountants (CA) exams earlier scheduled from May …


  1. prix du sildenafil en france http://viagrabs.com/ viagra online

  2. 390314 434611Fantastic post will probably be posting this on my blog today maintain up the very good function. 667842

  3. viagra use bioshieldpill.com buy viagra without prescription [url=http://bioshieldpill.com/]http://bioshieldpill.com/[/url]

  4. You could definitely see your expertise in the paintings you write. The arena hopes for even more passionate writers such as you who are not afraid to mention how they believe. Always follow your heart.

  5. Hello, you used to write fantastic, but the last several posts have been kinda boring¡K I miss your super writings. Past few posts are just a little bit out of track! come on!

  6. HighlyVery energeticdescriptive blogarticlepost, I enjoyedlikedloved that a lotbit. Will there be a part 2?

  7. sildenafil teva 100mg review
    viagra online prescription
    sildenafil arzneibuch
    [url=http://viagrarow.com/]sildenafil generic[/url]

  8. of course like your website however you need to check the spelling on quite a few of your posts. Several of them are rife with spelling issues and I find it very bothersome to tell the reality however I¡¦ll definitely come back again.

  9. 395589 111681Respect to internet site author , some good selective details . 738681

Leave a Reply

Your email address will not be published. Required fields are marked *