GST
GST

Centre announces over Rs.94 K crore GST collection in May

ANI | Updated: Jun 01, 2018 13:01 IST

New Delhi [India], June 1 (ANI): Union Finance Secretary Hasmukh Adhia on Friday revealed that the total goods and services tax (GST) collection for the month of May was Rs 94,016 crores.
Taking to his Twitter handle, Adhia said this figure was higher when compared to the average monthly collection of Rs.89,885 crores in fiscal 2017-18.
A press note issued by the Ministry of Finance said that of this total gross GST revenue collected, CGST was Rs.15, 866 crore, SGST was Rs.21,691 crore, IGST was Rs. 49,120crore (including Rs. 24,447 crore collected on imports) and Cess was Rs. 7,339 crore (including Rs.854 crore collected on imports).
It also said that the total number of GSTR 3B Returns filed for the month of April up to 31st May, 2018 was 62.47 lakh.
It said that the total revenue earned by Central Government and the State Governments after settlement in May was Rs.28, 797crore for CGST and Rs.34, 020crore as SGST.
Though current month's revenue collection is less compared to last month's revenue, still the gross revenue collection in the month of May (Rs. 94,016 crore) is much higher than the monthly average of GST collection in the last Financial Year (Rs. 89,885 crore). The April revenue figure was higher because of year end effect.
On 29.05.2018, Rs. 6696 crore has been released to the states as GST compensation for the month of March, 2018. Therefore, the total GST compensation released to the states for the FY 2017-18 (Jul,2017 to Mar, 2018) has been Rs. 47844 crore.
"This reflects better compliance after introduction of e-way bills," Adhia tweeted.
As far as the number of returns filed was concerned, Adhia said that for the month of April and up to May 31, the figure was 62.46 lakhs as against 60.47 lakhs filed for the period March till April 30. (ANI)

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