The government aims to mop up Rs 7.61 trillion from GST in 2019-20, an increase of 18% compared to the last fiscal.
AMN
The Goods and Services Tax, GST collection scaled all-time high of over 1.13 lakh crore rupees last month, up from 1.06 lakh crore rupees in the previous month.
The Finance Ministry in a statement said, out of the total gross GST revenue collected in April, Central GST is 21 thousand 163 crore rupees, State GST is 28 thousand 801 crore rupees, Integrated GST is 54 thousand 733 crore and cess is 9 thousand 168 crore rupees.
The total number of summary sales return GSTR-3B filed for the month of March up to 30th April stood at 72.13 lakh. The collection in the first month of current fiscal has been the highest since the introduction of GST and also reflects 10.05 per cent growth over April last year.
The government has settled 20 thousand 370 crore rupees to CGST and 15 thousand 975 crores to SGST from IGST as regular settlement.
Further, 12 thousand crores has been settled from the balance IGST available with the Centre on a 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 47 thousand 533 crore rupees for CGST and 50 thousand 776 crore rupees for SGST.
For 2019-20, the government proposes to collect 6.10 lakh crore rupees from CGST and 1.01 lakh crore rupees as compensation cess. The IGST balance has been pegged at 50 thousand crore rupees.
The CGST collection in 2018-19 was 4.25 lakh crore rupees, while compensation cess was over 97 thousand crore rupees.
The Goods and Services Tax (GST) revenue last month is 16.05 per cent higher than the monthly average of 98 thousand 114 crore GST revenue in 2018-19.