April GST mop-up breaches Rs 1L cr mark for 1st time

The government today announced that the total revenue collection under GST for the month of April stood at Rs 1,03,458 crore, crossing the Rs 1 lakh crore mark for the first time.The total revenue earned by Central Government and the State Governments after settlement in the month of April, 2018 is Rs 32,493 crore for CGST and Rs 40,257 crore for the SGST, finance ministry said.April was also the month for filing of quarterly Return for composition dealers. Out of 19.31 lakh composition dealers, 11.47 lakh filed their quarterly return(GSTR 4) which is 59.40% & paid total tax of Rs.579 crores, which is included in Rs.1.03 lakh crore of total GST collection, the govt said.According to the Finance ministry, the buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance.

from The Economic Times https://ift.tt/2HJEgTU