GST mop-up rises to Rs 1.02 lakh crore in January

The GST numbers are out. Collections in January rose to Rs 1.02 lakh crore, the second highest monthly mop-up after April.This is a significant increase from the collection of Rs 94,725 crore in December 2018, and 14 per cent higher than January 2018 collection of Rs 89,825 crore.The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh."The total gross GST revenue collected in January 2019 is Rs 1,02,503 crore of which Central GST is Rs 17,763 crore, State GST (SGST) is Rs 24,826 crore, Integrated GST (IGST) is Rs 51,225 crore and Cess is Rs 8,690 crore," the ministry said in a statement.This is the third time in current fiscal that revenues from Goods and Services Tax (GST) have crossed Rs 1 lakh crore mark. In April and October too, the collections surpassed this milestone.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 the central government and state governments after regular settlement in December 2018 is Rs 36,107 crore for CGST and Rs 39,503 crore for SGST.GST collection stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September, Rs 1,00,710 crore in October, Rs 97,637 crore in November and Rs 94,725 crore in December 2018.

from Economic Times http://bit.ly/2UyXbGU