GST Revenue Collections Cross Rs 1 Lakh Cr in May
Gross revenue on account of Goods and Services Tax (GST) in May totalled Rs 100,289 crore, up by 6.67 per cent from Rs 94,016 crore in the corresponding period of last year, the government said.
The revenue in May 2019 is 2.21 per cent higher than the monthly average of GST revenue in fiscal 2018-19, which is Rs 98,114 crore. Of this, Central GST in May 2019 was Rs 17,811 crore, States GST Rs 24,462 crore and Integrated GST Rs 49,891 crore (including Rs 24,875 crore collected on imports) and cess is Rs 8,125 crore (including Rs 953 crore collected on imports).
The government settled Rs 18,098 crore to CGST and Rs 14,438 crore to SGST from IGST as regular settlement. The total revenue earned by the Centre and state governments after regular settlement in May 2019 works out to Rs 35,909 crore for CGST and Rs 38,900 crore for the SGST.
The total number of GSTR 3B returns filed for April up to May 31 is 72.45 lakh, according to an official statement. An amount of Rs 18,934 crore has been released to the states as GST compensation for February and March.