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GST Collection In March Hits New High Of Rs 1.06 Trillion

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GST (goods and service tax) collection in March touched a new high of Rs 1,06,577 crore, a 15.6 percent increase from the revenue collected in the same month last year. It is the highest ever collection since the introduction of GST, according to a tweet by Finance Minister Arun Jaitley. Revenue for last quarter in the financial year 2018-19 was 14.3 percent higher than the same period last year.

 

In March 2018, the revenue collected was Rs 92,167 crore.

Of the total collection in March 2019, the total Central Goods and Services Tax (CGST) stood at Rs 20,353 crore, State Goods and Services Tax (SGST) collected was Rs 27,520 crore, Integrated Goods and Services Tax (IGST) (including Rs 23,521 crore collected on imports) was at Rs 50,418 crore and cess is Rs 8,286 crore (including Rs 891 crore collected on imports), a statement from the Ministry of Finance said.

GST Collection In March Hits New High Of Rs 1.06 Trillion

During the financial year 2018-19, an average of Rs 98,114 crore was collected as revenue for each month, 9.2 percent higher than the previous year's monthly average.

"These figures indicate that revenue growth has been picking up in recent months, despite various rate rationalization measures," the Ministry said in a statement.

As many as 75.95 lakh GSTR3B returns were filed for the month of February up to 31 March.

Read more about: gst
Story first published: Monday, April 1, 2019, 16:05 [IST]
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