Must Read

Fact sheet on GST revenue collection in Jan 2018

By IndianMandarins- 28 Feb 2018
920

fact-sheet-on-gst-revenue-collection-in-jan-2018The GST revenue collection for January 2018 stands at Rs. 86,318 crores. 1.03 crore taxpayers registered under GST till 25th February 2018, filed the returns. Of the total revenues (Rs. 86,318 crs), Rs. 14,233 crores were collected as CGST, Rs.19,961 crores as SGST and Rs. 43,794 crore as IGST whereas Rs. 8,331 crores were collected as Compensation Cess. Further, Rs. 11,327 crores are being transferred from IGST to CGST account and Rs. 13,479 crores is being transferred from IGST to SGST account by way of Settlement of Funds on account of cross utilization of IGST credit for payment of CGST and SGST respectively or due to inter State B2C transactions. Thus, a total amount of Rs. 24,806 crores is being transferred from IGST to CGST/SGST account by way of settlement. Thus, the total collection of CGST and SGST for the month of February, 2018 (up to 25th February) is Rs. 25,560 crores and Rs. 33,440 crores respectively, including transfers by way of settlement. So far 17.65, lakh dealers have registered as composition dealers. Out of these, 1.23 lakh Composition Dealers have opted-out of the Composition Scheme and have thus become regular taxpayers. Thus, till 25th February, 2018, there are 16.42 lakh Composition Dealers which are required to file returns every Quarter and the rest of 87.03 lakh taxpayers are required to file monthly returns. 57.78 lakh GSTR 3B returns have been filed during the above said period. This is 69 percent of total taxpayers which are required to file monthly returns.

free stat counter