January GST revenue reaches Rupees One trillion
Third occasion of GST
Revenue crossed Rupee one trillion!
The
total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503
crore of which CGST is Rs17,763crore, SGST is Rs 24,826 crore, IGST is Rs
51,225 crore (including Rs 24,065crore collected on imports) and Cess is Rs
8,690 crore (including Rs 902crore collected on imports).
In
FY 2018-2019, it is for the third time that GST Revenue collection has crossed
One Lakh Crore. The total number of GSTR 3B Returns filed for the month of
December up to 31stJanuary, 2019 is 73.3lakh. The government has settled Rs
18,344 crore to CGST and Rs 14,677 crore to SGST from IGST as regular
settlement.
The
total revenue earned by Central Government and the State Governments after
regular settlement in the month of December, 2018 is Rs 36,107 crore for CGST and
Rs 39,503 crore for the SGST. The collection in January 2019 is a significant
increase from the collection of Rs 94,725 crore in December, which was a
decline from Rs 97,637 crore in November and Rs 1,00,710 crore in October.
January 2019 collections are 14% above the January 2018 collections of Rs
89,825 crore.
This
jump has been achieved despite various tax reductions having come into force
that provided major relief to the consumers. The gross GST collections over the
last three-month period have been 14% higher than the corresponding period last
year.
The
following Chart shows Trends in Revenue during the Current Financial Year
2018-19 as compared to the Last FY 2017-18: The following Chart shows Trends in
Revenue during the Current Financial Year 2018-19 as compared to the Last FY
2017-18.
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