Govt mops up highest-ever GST in March at Rs 1.06 lk cr

The government collected highest ever GST for the month of March crossing the Rs One lakh crore mark.The government mopped up Rs 1,06,577 crore of which CGST is Rs 20,353 crore, SGST is Rs 27,520 crore, IGST is Rs 50,418 crore (including Rs 23,521 crore collected on imports) and Cess is Rs 8,286 crore (including Rs 891 crore collected on imports).Total number of GSTR 3B Returns filed for the month of February up to 31st March, 2019 is 75.95 lakh, the ministry of finance said. Government has also settled Rs 17,261 crore to CGST and Rs 13,689 crore to SGST from IGST as regular settlement.This is the fourth time in the current fiscal that the government collected a GST of over a lakh of crores boosting its revenue collection target. The government had said that the GST could be further streamlined and eventually towards a single rate once the GST collection stabilises around a lakh of crores.The average GST collection for the entire fiscal is at Rs 98,114 crore.

from Economic Times https://ift.tt/2HZuSyp