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GST collections jump an all-time high in April

GST collections jump an all-time high in April

Revenue from goods and services tax (GST) witnessed 10% growth from the year-ago period at ?1.13 trillion in April, the highest ever since the implementation of the indirect tax system on 1 July 2017, the finance ministry said on Wednesday. The rise in tax collections in April (for domestic sales in March) can also be partially attributed to the year-end phenomenon, when taxpayers pay their arrears.

Of the gross GST collection of ?1.13 trillion, central GST (CGST) was ?21,163 crore, while state GST (SGST) was ?28,801 crore. Integrated GST (IGST) collections, levied on inter-state supply of goods and services, and divided between the centre and states, stood at ?54,733 crore and ?9,168 crore of cess was collected in April. As many as 72.13 lakh summary return GSTR 3Bs were filed in March, and up to 30 April, the ministry said. The government aims to mop up ?7.61 trillion from GST in 2019-20, an increase of 18% compared to the last fiscal.


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