INDIA

GST Collection Records 1.06 Lakh Crores In March

Mumbai: In March, the GST collection earned a record high of Rs 1.06 lakh crore, which was more than Rs 97,247 crore in the previous month.

“The total gross GST revenue in March 2019 is Rs 1,06,577 crore, in which central GST is 20,353 crore, state GST is 27,520 crore, unified GST is Rs 50,418 crore and cess of Rs 8,286 crore,” an official statement said.

The number of total sales returns GSTR-3B recorded from February to 31 March was 75.95 lakh.

The collection in March 2019 has been the highest since the beginning of GST and shows an increase of 15.6 per cent in March 2018, which is a collection of Rs 92,167 crore.

During the year 2018-19, the monthly average of GST revenue was Rs 98,114 crore, which is 9.2 per cent more than the previous financial year. These figures show that in recent months the revenue growth rate is rising despite various rational measures.

In the revised estimates, the GST collection target has been reduced to Rs 11.47 lakh crore for the fiscal year 2018-19.

The GST collection was Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September, Rs 1,00,710 crore in October. 97,637 crore in November, Rs 94,725 crore in December 2018, Rs 1.02 lakh crore in January 2019 and Rs 97,247 crore in February 2019.

For the financial year 2019-20, the GST collection target has been kept at Rs 13.71 lakh crore.

(With PTI Inputs)

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