Ending the euphoria of better than expected goods and services tax (GST) collection in the last month, the collections under the GST in August slowed down by 3.6 percent to Rs 90,669 crore, than the revised mop-up of Rs 94,063 crore in July. Of the total tax collected, Rs 14,402 crore have come in as Central GST, Rs 21,067 crore as State GST and Rs 47,377 crore as Integrated GST, which is levied on inter-state movement of goods and imports and Rs 7,823 crore as compensation cess.
A finance ministry statement said that the total revenue of GST paid under different heads (up to 25th September, 2017) is Rs 90,669 crore. A total of 68.2 lakh tax payers were required to file returns for August 2017, of which, as on 25th September, 37.63 lakh have filed GSTR 3B returns. Only 55 per cent of assessees paid taxes for August, compared to 64 per cent for July.
The data however, revealed that there were segments where collections had soared, such as through compensation cess, which is levied on tobacco products, pan masala and automobiles. There was a pickup in demand for large cars, especially SUVs, as the government had planned to increase the cess on these vehicles. Additionally, there are still a number of assessees who have not filed their return either for July or August, 2017. The current tax collection figures do not include the GST to be paid by 10.24 lakh such assesses.
Earlier, the government had extended the last dates for filing GSTR 1, 2 and 3 returns for July to October 10, 31and November 10, respectively, following technical glitches at Goods and Services Tax Network (GSTN), the company that manages the GST IT system.
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