Huge amount of revenue collected by government from GST

The newest tax regime i.e Goods and Services Tax(GST) has collected Rs 80,808 crore as GST in November from 53.06 lakh businesses said the Finance Ministry.
Out of this,Rs 13,089 crore is account of Central GST(CGST),while State GST(SGST) is accounted to Rs 18,650 crore.The Integrated GST(IGST) collection is Rs 41,270 crore.
Huge amount of revenue collected by government from GST
Courtesy-Legal Raasta
The Finance Ministry said in a statement-
The total revenue of GST paid under different heads i.e up to October 23,2017 for the month of September 2017 is Rs 92,150 crore.

As per the data,GST collections for the first month of July after the GST roll out was over
95,000 crore,while in the month of August the figure was over Rs 91,000 crore.In September,the collection was Rs 92,150 crore from 42.51 lakh businesses.Out of this,Rs 14,042 crore is account of Central GST(CGST),while State GST(SGST) is accounted to Rs 21,172 crore.The Integrated GST(IGST) collection is Rs 48,948 crore of which Rs 23,951 crore was earned by imports.In October,the collection dip down to 83,346 crore from 50.1 lakh businesses.

Collection under Compensation cess stood at Rs 7,988 crore,out of which,Rs 722 crore is Compensation cess from the imports in September.September was the third month of GST roll out.Till Tuesday 42.91 lakh business entities had filed initial GSTR-3B returns for September.GST which eliminated over a dozen taxes, including excise duty and service tax, was rolled out from July 1.

Maharashtra state topped the table of highest taxpaying states with Rs 49,538 crore whereas Tamil Nadu stood at the second position with Rs 22,083 crores till 31st November.The list was followed by Gujarat on third position.

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Huge amount of revenue collected by government from GST Huge amount of revenue collected by government from GST Reviewed by Saurabh Jadhav on October 26, 2017 Rating: 5
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