GST revenue for May below lakh crore mark

Gujarat Global News Network, New Delhi

The total gross GST revenue collections in May dipped below one lakh crore to Rs.94,016 crore. In April the collection was Rs.1.03 trillion/ though the government claimed that the collection was higher than the monthly average of Rs.89,885 crore.

CGST is Rs.15,866 crore, SGST is Rs.21,691 crore, IGST is Rs. 49,120crore (including Rs. 24,447 crore collected on imports) and Cess is Rs. 7,339 crore (including Rs.854 crore collected on imports).The total number of GSTR 3B Returns filed for the month of April up to 31st May, 2018 is 62.47 lakh.

The total revenue earned by Central Government and the State Governments after settlement in the month of May, 2018 is Rs.28,797crore for CGST and Rs.34,020crore for the SGST, a finance ministry release said.

The higher GST collection in April was partly because of payments of tax arrears for the year ended 31 March, it said. Finance secretary Hasmukh Adhia tweeted that the GST collection in May reflects better compliance after the introduction of e-way bills.

The number of GST returns filed for April up to 31 May also rose to 6.246 million as against 6.047 million for the previous month.

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