GST nets Rs90,669 cr in August as over 50% of 6.82 mn assessees pay tax
27 Sep 2017
About 3.76 million of the 6.82 million registered tax payers have filed GSTR 3B returns as of 25 September 2017, the last date for payment of GST as well as filing of GSTR 3B return for August 2017.
The total revenue of GST paid under different heads (up to 25 September 2017) is Rs90,669 crore. This includes CGST revenue of Rs14,402 crore, SGST revenue of Rs21,067 crore, IGST revenue of Rs47,377 crore (of which IGST from imports in August 2017 is Rs23,180 crore) and Compensation Cess of Rs7,823 crore (of which Rs547 crore is Compensation Cess from imports in August 2017), says a finance ministry release.
The above figures do not include the GST to be paid by 1.02 million assessees who have opted for the composition scheme. Additionally, there are still a number of assessees who have not filed their returns either for July or August 2017, the release said.
The Goods and Services Tax (GST) was introduced on 1 July 2017. In the press release dated 29 August 2017, it was reported that the total revenue of GST paid under different heads for July 2017 (up to 29 August) was Rs92,283 crore.
Out of the total GST collection of Rs92,283 crore, the total CGST revenue was Rs14,894 crore, SGST revenue was Rs22,722 crore, IGST revenue was Rs47,469 crore (of which IGST from imports was Rs20,964 crore) and Compensation Cess was Rs7,198 crore (of which Rs599 crore is Compensation Cess from imports).
Many assessees have been filing the returns for July 2017 belatedly and till 31 August 2017 and the total GST paid for July stood at Rs94,063 crore.