Millennium Post

GST revenue collection at Rs 1.03 lakh cr in Dec

GST revenue collection at Rs 1.03 lakh cr in Dec

The total number of GSTR 3B returns filed for the month of November up to December 31, 2019 was 81.21 lakh.

The government has settled Rs 21,814 crore to Central Goods and Services Tax (CGST) and Rs 15,366 crore to State Goods and Services Tax (SGST) from IGST as regular settlement.

The total revenue earned by the Centre and state governments after regular settlement in December 2019 is Rs 41,776 crore for CGST and Rs 42,158 crore for SGST.

The government has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining part of the current fiscal and asked taxmen to step up efforts to achieve the goal.

Revenue Secretary Ajay Bhushan Pandey held a video conference meeting last month with top tax officials of departments looking after both income tax and indirect taxes such as GST and asked them to step up efforts to achieve tax targets.

Commenting on the GST collection, M S Mani, Partner, Deloitte India said the reversal in the trend of declining GST collections should continue for the remaining months of the current fiscal in order to keep the fiscal deficit under control.

With the trend of improving collections and the e-invoicing and new returns slated in the coming months, it is now expected that the GST collections would show a steady improvement, although it may still fall short of the annual targets, he said.

During December 2019, Arunachal Pradesh recorded more than two-fold jump in GST collection to Rs 58 crore from Rs 26 crore in the same month previous year.

It was followed by Nagaland witnessing 88 per cent increase, Manipur 64 per cent and Mizoram 60 per cent.

However, Union Territory Lakshadweep recorded 78 per cent decline in GST collection to Rs 1 crore and Jharkhand posted decline of 3 per cent at Rs 1,943 crore.

PTI

PTI

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