Economy

GST collections rise to ₹95,610 crore in June: Hasmukh Adhia

Minister in-charge of Finance Piyush Goyal and Finance Secretary Hasmukh Adhia (right) during the 'GST-Day' celebration, in New Delhi on Sunday.   | Photo Credit: PTI

The Goods and Services Tax (GST) revenue mop-up rose to ₹95,610 crore in June from ₹94,016 crore in the previous month, Finance Secretary Hasmukh Adhia said on Sunday.

In April 2018, the collections from the GST were over ₹1.03 lakh crore.

The total number of GSTR-3B returns filed for the month of May up to June 2018 is 64.69 lakh, the Finance Ministry said in a statement.

“The total gross revenue collected in the month of June 2018 is ₹95,610 crore,” Mr. Adhia said.

The average monthly GST collections have been ₹89,885 crore in the previous fiscal, which saw revenues at ₹7.41 lakh crore in the July-March period.

In June, total revenues earned by the Centre and States after settlement are ₹31,645 crore for Central Goods and Services Tax (CGST) and ₹36,683 crore for State Goods and Services Tax (SGST), the Ministry said.

Of the total ₹95,610 crore gross revenue collected in June, ₹15,968 crore is on account of CGST, ₹22,021 crore SGST, ₹49,498 crore (including ₹24,493 crore collected on imports) on account of Integrated Goods and Services Tax (IGST) and ₹8,122 crore from cess.

Mr. Adhia said that ₹1 lakh crore revenue is “not the norm still”. “We hope to bring it [GST revenue] to the level of ₹1 lakh crore [every month],” he said while addressing the GST-Day celebrations in New Delhi.

Mr. Adhia also said if bogus bills are not issued, then revenues would improve further in the coming months.

During his speech, the Secretary also acknowledged the efforts of stakeholders, Central and State tax officers and business community in making the GST, which was rolled out on July 1, 2017, a success.

In the month of June 2018, additional provisional settlement has been done and ₹50,000 crore has been settled between the Centre and States. This is in addition to the earlier provisional settlement of ₹35,000 crore in February 2018, the Ministry added.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Jan 22, 2022 1:00:42 AM | https://www.thehindu.com/business/Economy/gst-collections-rise-to-95610-crore-in-june-hasmukh-adhia/article24304756.ece

Next Story