The government has collected Rs 90,669 crore in Goods and Services Tax (GST) for August, the second month of the indirect tax regime rollout. According to the revised estimate, the GST mop-up for July stood at Rs 94,063 crore, up from the initial projection of Rs 92,283 crore.
"The total revenue of GST paid under different heads (up to September 25, 2017) is Rs 90,669 crore," an official statement said, adding these figures do not include GST paid by 10.24 lakh assessees who have opted for composition scheme. Of this, as much as Rs 14,402 crore has come in from the Central GST (CGST), Rs 21,067 crore from State GST (SGST), Rs 47,377 crore from Integrated GST (IGST) and Rs 7,823 crore from compensation cess levied on demerit and luxury goods. What Are The Major Benefits or Advantages Of GST?
It is to be noted that the last date for payment of GST as well as filing of GSTR 3B return for the month of August was September 20, 2017. The statement further said that there are still a number of assessees who have not filed their returns either for July or August 2017. The increase in the above-stated figures will be informed in due course, it said. The total number of taxpayers who were supposed to file monthly returns for August is 68.20 lakh, of which, as on September 25, 37.63 lakh GSTR 3B returns have been filed, it said. GST: These Companies Are Cutting Price For Products
The GST was implemented across the country in place of more than a dozen central and state levies like excise duty, service tax and VAT was implemented from July 1. In July, the GST collection was Rs 92,283 crore from 64.42 per cent of the total taxpayer base. Of this, as much as Rs 14,894 crore has come in from the Central GST (CGST), Rs 22,722 crore from State GST (SGST), Rs 47,469 crore from Integrated GST (IGST) and Rs 7,198 crore from compensation cess levied on demerit and luxury goods. Many assessees have been filing the returns for July 2017 belatedly, and till August 31, 2017, and the total GST paid for July is Rs 94,063 crore, it said.