The total gross GST revenue collected in the month of August, 2018 is ₹ 93,960 crore of which CGST is ₹ 15,303crore, SGST is ₹ 21,154crore, IGST is ₹ 49,876crore (including ₹ 26,512crore collected on imports) and Cess is ₹ 7,628crore (including ₹ 849crore collected on imports). The total number of GSTR 3B Returns filed for the month of July up to 31^st August, 2018 is 67 lakh. This is slightly higher than 66 lakh returns of the month of June filed up to 31^st July, 2018. The last date of filing return of July, 2018 in the State of Kerala was extended upto 5^th October, 2018.

The total revenue earned by Central Government and the State Governments after settlement including provisional settlement of ₹ 12,000 crore in the month of August, 2018 is ₹ 36,963 crore for CGST and ₹ 41,136 crore for the SGST. For the bi-monthly period June-July, 2018, compensation of ₹ 14,930 crore has been released to the States.

The revenues collected in August, 2018 of ₹ 93,960 crore is slightly lower than July, 2018 collection of ₹ 96,483 crore, and June, 2018 collection of ₹ 95,610 crore. The chart shows trends in revenue during the current year.

One of the main factors for the dip in tax revenues is probable postponement of sale of items for which tax rate was reduced by the Council as the decision to reduce the tax rate was taken in meeting held on 21^st July while the notification of the reduced rate came into effect only from 27^th July, 2018. Since it would have taken some time for the market to pass on the benefit of reduced taxes, consumers would have postponed their decision to buy expecting the benefit. The actual impact of reduction of rate of taxes would be observed only from next month onwards as the rate reduction would have got affected only in last few days of the month.

Even past trend of indirect tax collection shows that while July collections are 8.2% of the total annual collections, August collections are at a lower level of 7.7% of the total annual collections. This is another reason for lower collections during the month of August as compared to that in July.

GST revenue collection dips as late rate reduction timing and seasonal filing patterns reduce monthly receipts. Total GST revenue for August 2018 was Rs. 93,960 crore with breakdowns for CGST, SGST, IGST and cess; GSTR 3B filings for July numbered 67 lakh and one State received a filing extension. Post settlement receipts to Centre and States included a provisional settlement and compensation release. The modest decline versus prior months is attributed to late July tax rate reductions that likely delayed purchases and to a recurring seasonal pattern where August typically records a smaller share of annual collections.