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GST revenue collections for February 2018

The last date for filing of GSTR 3B return for the month of February 2018 was 20th March 2018. The total revenue received under GST for the month of February 2018(received in February/March upto 26th March) has been Rs. 85,174 crores.

1.05 crore taxpayers have been registered under GST so far till 25th March, 2018. Out of these, 18.17 lakh are composition dealers which are required to file returns every quarter and the rest of 86.37 lakh taxpayers are required to file monthly returns.

59.51 lakh GSTR 3B returns have been filed for the month of February, 2018 till 25th March, 2018. This is 69 percent of total taxpayers which are required to file monthly returns.

Revenue of States: Of the Rs. 85,174 crores collected under GST for the month of March, 2018 (upto 26thMarch), Rs. 14,945 crores have been collected as CGST, Rs. 20,456 crores has been collected as SGST, Rs. 42,456 crores has been collected as IGST and Rs. 7,317 crores has been collected as Compensation cess. Further, Rs. 12,140 crores is being transferred from IGST to CGST account and Rs. 13,424 crores is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilization of IGST credit for payment of CGST and SGST respectively or due to inter State B2C transactions. Thus, a total amount of Rs. 25,564 crores is being transferred from IGST to CGST/SGST account by way of settlement. Thus, the total collection of CGST and SGST for the month of March, 2018 (upto 26th March) is Rs. 27,085 crores and Rs. 33,880 crores respectively, including transfers by way of settlement.

 

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