GST collection jumps to Rs 1.13 lakh crore in April 2019,Get More Details?
By FnF Correspondent | PUBLISHED: 04, May 2019, 14:30 pm IST | UPDATED: 04, May 2019, 14:30 pm IST
Delhi: The Finance Ministry on Wednesday revealed that the total goods and services tax (GST) revenue collected in the month of April 2019 has increased to Rs 1,13,865 crore, the highest ever since the new tax regime came into effect from July, 2017. “The total gross GST revenue collected in April 2019 is Rs 1,13,865 crore of which Central GST is Rs 21,163 crore, State GST (SGST) is Rs 28,801 crore, Integrated GST is Rs 54,733 crore and cess is Rs 9,168 crore,” an official statement said.Total number of summary sales return GSTR-3B filed for the month of March up to April 30 stood at Rs 72.13 lakh. April is the first month of 2019-20 fiscal. The GST revenue collected in the month of April was 10.05 per cent higher than the collections for the same month last year, when the collection was Rs 1,03,459 crore. It was also 16 per cent higher than the monthly average of revenue in the last financial year.
The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement. Further, Rs 12,000 crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States.
“The total revenue earned by the central government and state governments after regular and provisional settlement in April 2019 is Rs 47,533 crore for CGST and Rs 50,776 crore for SGST,” the official statement from the Finance Ministry added.
For the year 2019-20, the government has proposed to collect Rs 6.10 lakh crore from CGST and Rs 1.01 lakh crore as compensation cess. The IGST balance has been pegged at Rs 50,000 crore. The CGST collection in 2018-19 was Rs 4.25 lakh crore, while compensation cess was over Rs 97,000 crore.
The GST revenue last month was 16.05 per cent higher than the monthly average of Rs 98,114 crore GST revenue in 2018-19.