Explained: GST collection hits record high of Rs 1.13 lakh crore in April. What does it implyhttps://indianexpress.com/article/explained/gst-collection-hits-record-high-in-april-5705205/

Explained: GST collection hits record high of Rs 1.13 lakh crore in April. What does it imply

Though the double-digit growth in GST revenue from last year is being seen as a sign of growth in the taxpayer base, it also reflects the year-end adjustments and reconciliations at the end of the financial year 2018-19.

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Goods and Services Tax (GST) collections hit an all-time high of Rs 1.13 lakh crore in April.

Goods and Services Tax (GST) collections hit an all-time high of Rs 1.13 lakh crore in April (for March). This is the second consecutive month of GST mop-up topping Rs 1 lakh crore-mark and 10 per cent higher than Rs 1.03 lakh crore collected in April 2018.

“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.

Significance:

Though the double-digit growth in GST revenue from last year is being seen as a sign of growth in the taxpayer base, it also reflects the year-end adjustments and reconciliations at the end of the financial year 2018-19.

Also, the GST revenues may have gained from the computation of tax liability due to the filing of annual return for the financial year 2017-18 whose due date is June 30 along with data-analytics based action against tax evaders.

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Under strain:

GST collections have been under strain, with the Central government even revising down its Budget target for 2018-19.

GST targets have been challenging in view of a slew of relief measures and rate cuts that have been estimated to create a dent of Rs 80,000 crore a year along with revenue loss due to leakages and tax evasion.