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GST collections rise to Rs 1.02 lakh crore in January 2019

The Finance Ministry has said Goods and Services Tax (GST) collections rose to Rs 1.02 lakh crore in January 2019. This was the second highest monthly mop-up after April. This was a significant increase from the collection of Rs 94,725 crore in December 2018, and 14% higher than January 2018 collection of Rs 89,825 crore.  The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 was 73.3 lakh.

The Ministry further stated that the total gross GST revenue collected was Rs 1,02,503 crore in January 2019, of which Central GST (CGST) was Rs 17,763 crore, State GST (SGST) was Rs 24,826 crore, Integrated GST (IGST) was Rs 51,225 crore and Cess was Rs 8,690 crore. This was the third time in current fiscal that revenues from GST have crossed Rs 1 lakh crore mark. In April and October too, the collections surpassed this milestone.

The government has settled Rs 18,344 crore to CGST and Rs 14,677 crore to SGST from IGST as regular settlement. The total revenue earned by the central government and state governments after regular settlement in December 2018 was Rs 36,107 crore for CGST and Rs 39,503 crore for SGST.

Besides, the ministry mentioned that GST collection stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September, Rs 1,00,710 crore in October, Rs 97,637 crore in November and Rs 94,725 crore in December 2018.

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