The total gross revenue collected in May stood at Rs 94,016 cr. That's lower than Rs 1 lakh crore in April (but higher than the average of Rs 89,885 crore a month in 2017-18).
Analysts say that the lower collection for May as compared with previous month was expected as in the last month of the financial year (March) people try to pay arrears, leading to higher revenue collection. Moreover, the trend also suggests that in April, the tax collection is usually lower than other months.
Compliance increased during the month after the e-way bill launch. A total of 62.46 lakh GST returns were filed for the month of April, as on May 31, compared to 60.47 lakh returns for March.
Readers' Choice
Haryana IAS may be forcibly retired for her long absence from duty
Bihar Chief Secretary may get service extension
Rajasthan Govt recommends halting pension of IAS officer in wheat scam case
Neeraj Mandloi is new ACS to Chief Minister, IAS reshuffle includes nine officers
RK Sharma takes charge as DGP
GST collection in May falls from historic Rs 1 lakh Cr
By IndianMandarins - 2018-06-02 07:11:26
The total gross revenue collected in May stood at Rs 94,016 cr. That's lower than Rs 1 lakh crore in April (but higher than the average of Rs 89,885 crore a month in 2017-18).
Analysts say that the lower collection for May as compared with previous month was expected as in the last month of the financial year (March) people try to pay arrears, leading to higher revenue collection. Moreover, the trend also suggests that in April, the tax collection is usually lower than other months.
Compliance increased during the month after the e-way bill launch. A total of 62.46 lakh GST returns were filed for the month of April, as on May 31, compared to 60.47 lakh returns for March.
