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GST collection scales all-time high of Rs 1.13 lakh crore in April

02 May 2019 Evaluate

The finance ministry has said Goods and Services Tax (GST) collection scaled all-time high in first month (April) of current financial year (FY20).  The total gross GST revenue collected in April 2019 is Rs 1,13,865 crore of which Central GST (CGST) is Rs 21,163 crore, State GST (SGST) is Rs 28,801 crore, Integrated GST (IGST) is Rs 54,733 crore and cess is Rs 9,168 crore. The collection last month has been the highest since introduction of GST and also reflects 10.05% growth over April 2018, when the collection was Rs 1,03,459 crore. Total number of summary sales return GSTR-3B filed for the month of March up to April 30 stood at 72.13 lakh.

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.

Besides, for FY20, the government proposes 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 FY19 was Rs 4.25 lakh crore, while compensation cess was over Rs 97,000 crore. The GST revenue last month is 16.05% higher than the monthly average of Rs 98,114 crore GST revenue in FY19.

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