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GST collection reaches record high of Rs 1.13 lakh crore in April

The government has set a GST collection target of Rs 6.10 lakh crore from CGST and Rs 1.01 lakh crore as compensation cess for the financial year 2019-20

twitter-logo BusinessToday.In        Last Updated: May 1, 2019  | 16:20 IST
GST collection reaches record high of Rs 1.13 lakh crore in April
This the highest ever GST collection figure reported since the rollout of the indirect tax regime

The GST collection reached an all-time high of Rs 1.13 lakh crore in the month of April. This is the highest ever GST mop-up since the indirect tax regime was rolled out. This amounts to a 6.6 per cent increase over the last high of Rs 1.06 lakh crore recorded in March this year.

"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," the Ministry of Finance said in a statement on Wednesday.

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The government 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 number of summary sales return GSTR-3B filed for the month of March up to April 30 stood at 72.13 lakh.

"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 Finance Ministry further said.

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For the financial year 2019-20, the government has set a GST collection target of 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 for the fiscal.

In comparison, the CGST collection during 2018-19 was Rs 4.25 lakh crore, while compensation cess was over Rs 97,000 crore.

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