GST collection scales record high of Rs 1.13 lakh crore in Aprilhttps://indianexpress.com/article/business/gst-collection-record-high-in-april-5704966/

GST collection scales record high of Rs 1.13 lakh crore in April

The collection last month has been the highest since the introduction of GST and also reflects 10.05 per cent growth over April 2018, when the collection was Rs 1,03,459 crore.

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GST collection scaled an all-time high of over Rs 1.13 lakh crore in April. (Representational)

GST collection scaled an all-time high of over Rs 1.13 lakh crore in April, up from Rs 1.06 lakh crore in the previous month, the finance ministry said Wednesday.

“The total gross GST revenue collected in April 2019 is Rs 1,13,865 crore of which Central GST is Rs 21,163 crore, State GST (SGST) is Rs 28,801 crore, Integrated GST is Rs 54,733 crore and cess is Rs 9,168 crore,” an official statement said.

The total number of summary sales return GSTR-3B filed for the month of March up to April 30 stood at 72.13 lakh. April is the first month of 2019-20 fiscal.

The collection last month has been the highest since the introduction of GST and also reflects 10.05 per cent growth over April 2018, when the collection was Rs 1,03,459 crore, it said.

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The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement. Further, Rs 12,000 crore has been settled from the balance IGST available with the Centre on a provisional basis in the ratio of 50:50 between Centre and States.

“The total revenue earned by the central government and state governments after regular and provisional settlement in April 2019 is Rs 47,533 crore for CGST and Rs 50,776 crore for SGST,” the statement added.

For 2019-20, the government proposes to collect Rs 6.10 lakh crore from CGST and Rs 1.01 lakh crore as compensation cess. The IGST balance has been pegged at Rs 50,000 crore.

The CGST collection in 2018-19 was Rs 4.25 lakh crore, while compensation cess was over Rs 97,000 crore. The Goods and Services Tax (GST) revenue last month is 16.05 per cent higher than the monthly average of Rs 98,114 crore GST revenue in 2018-19.