InvestorQ : What is the recent hype in 2019 GST collection for BJP government?
Rishita Das made post

What is the recent hype in 2019 GST collection for BJP government?

Sam Eswaran answered.
3 years ago
The 2019 GST collection report of India's government is out now. It is with the total figure of total ₹1,06,577 crore including CGST is ₹ 20,353 crores (Fig. in approx). The tax collection had been in full swing in the month of March 2019.
The tax amount of March 2019 hit the report for the first time. Since the first monthly collection of GST i.e March 2017 to the month of March 2019, it has raised to 15% year-on-year to approx ₹1,06,577 crores.
In February 2019 the total number of GSTR 3B Returns filed is up to ₹75.95 lakh. If we check the revenue figure of March 2018 GST collection, it was ₹92,167 crore.
The total average GST revenue during 2018-19 comes to around ₹98,114 crore which is comparatively 9.2% higher than Financial Year 2017-18.
However, looking at the raising ratio, budget for the GST collection has targeted for the fiscal year 2019-20, is at ₹13.71 lakh crore.


Roshni Hegde answered.
3 years ago

The Goods and Services Tax (GST) collections of April 2019 made a new record by reaching a level exceeded Rs 1,13,865 crore (Rs 1.13 trillion) since its rollout in 2017. This is not for the first time that GST collection broke its record. The financial experts say the collection was already at a good pace to hit heights of approx. Rs 1.06 lakh crore.

India's ministry of finance said referring records of the current month, April 2019, the total gross of GST revenue stood nearly Rs 1,13,865 crore which includes CGST Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is IGST is Rs 54,733 crore (approx.).
The total number of summary sales return GSTR 3B Returns filed for the month of March till April 2019 is 72.13 lakh.