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Considering present trend in the Monthly Collection of GST revenue, the changes in Revised Estimates vis-à-vis Budget Estimates for the FY 2018-19 are as under:
Goods and Services Tax (GST) (in Rs. Crore) | Budget 2018-2019 | Revised 2018-2019 |
CGST | 603900 | 503900 |
IGST | 50000 | 50000 |
GST Compensation Cess | 90000 | 90000 |
Total | 743900 | 643900 |
It is further submitted that the Month-Wise Gross Collection of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess for FY 2017-18 and FY 2018-19 are as under:
Month | GST collection (in Rs. Crore) | |
2017-18 | 2018-19 | |
April | -- | 1,03,459 |
May | -- | 94,016 |
June | -- | 95,610 |
July | -- | 96,483 |
August | 95,633 | 93,960 |
September | 94,064 | 94,442 |
October | 93,333 | 100,710 |
November | 83,780 | 97,637 |
December | 84,314 | 94,726 |
January | 89,825 | 1,02,503 |
February | 85,962 | -- |
March | 92,167 | -- |
Average | 89,885 | 97,555 |
In view of the above facts, it is clear that the GST collection in the current FY (2018-19) has been showing improvement compared to last FY (2017-18). The average gross collection of GST in the Current FY 2018-19 is ₹ 97,555 crore (till January’19) as compared to last year average collection of ₹ 89,885 crore.
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a Written Reply to a Question in Lok Sabha today.
GST collections show upward trend this fiscal; revised central tax estimates reduced while monthly receipts improved. Revised 2018-19 estimates reduce projected Central GST while IGST and GST compensation cess remain unchanged, yielding a lower total than Budget Estimates. Month-by-month collections through January show an improving trend across CGST, SGST, IGST and cess components, with the current fiscal year's average monthly gross collection higher than the previous year's average.Press 'Enter' after typing page number.