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02-Jan2019

Government collects Rs 97,637 crore under GST in December

The government has once again missed its Rs 1 lakh crore target of gathering revenue from Goods and Services Tax (GST) in the month of December 2018. The GST collection declined to Rs 94,726 crore in December, lower than Rs 97,637 crore collected in November. However, compliance improved during the month under review as the total number of sales returns or GSTR-3B filed in December stood at 72.44 lakh, as against 69.6 lakh filed in November.

The fall in revenue collection raised concerns that the government may not be able to contain the fiscal deficit to 3.2% of the Gross Domestic Product (GDP). As per the data, out of the total collection Rs 94,726 crore, Central GST (CGST) collection was Rs 16,442 crore, State GST (SGST) was Rs 22,459 crore, Integrated GST (IGST) was Rs 47,936 crore and Cess was Rs 7,888 crore.

Besides, the government has settled Rs 18,409 crore to CGST and Rs 14,793 crore to SGST from IGST as regular settlement.  The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.

During the April-December period of the current fiscal, the government has mopped up over Rs 8.71 lakh crore from GST. The 2018-19 budget had estimated annual GST collection at Rs 13.48 lakh crore, which means a monthly target of Rs 1.12 lakh crore. Meanwhile, the monthly average GST collection in last fiscal (July 2017 - March 2018) was Rs 89,885 crore.


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