Around 55% traders have filed the tax returns till now and the total revenue collected by the government in form of Goods and Service Taxes (GST) for August stands at Rs 90,669 Cr. The collections in August have come in lower than July figures. The July collections stood at Rs 94,063 crore. The total taxes collected in August are as follows, Rs 21,067 crore came from SGST, Rs 14,402 came from CGST and Rs 7,823 crore from GST compensation cess.
“The total revenue of Goods and Services Tax (GST) paid under different heads, up to September 25, is Rs 90,669 crore. The total number of taxpayers who were required to file monthly returns for August is 68.20 lakh, of which, 37.63 lakh GSTR 3B returns have been filed,” Finance Ministry said in a statement on Tuesday.
In the month of July, 64% assesses paid their taxes. The last date for payment of GST as well as the filing of GSTR 3B return for the month of August was September 20.
“Out of the total GST collection for August, the Central GST revenue is Rs 14,402 crore, State GST revenue is Rs 21,067 crore, Integrated GST revenue is Rs 47,377 crore (of which IGST from imports in August is Rs 23,180 crore) and compensation cess is Rs 7,823 crore (of which Rs 547 crore is from imports),” it said.
In August, Finance Minister Arun Jaitley said that India’s GST collections of Rs 92,283 crore for July was above the government’s tax collection target for the month. The new tax system of Goods and Service Taxes (GST) was introduced on July 1, 2017.
(With inputs from agencies)