Setting up a new record, GST collections have registered a new high and inflated to Rs 1.06 lakh crore from Rs 97,247 crore during March 2019.
“Total gross GST revenue collected in March 2019 is Rs 1,06,577 crore of which Central GST is Rs 20,353 crore, State GST is Rs 27,520 crore, Integrated GST is Rs 50,418 crore and cess is Rs 8,286 crore,” said the official statement communiqué.
As per the official figures, the total number of summary sales return GSTR-3B filed for February and up to March 31, recorded at 75.95 lakh.
The collection reported in March 2019 has been the highest since the unveiling of the Goods and Services Tax (GST). It is also 15.6 percent higher than the collection witnessed in March 2018.
Monthly average of GST revenue for 2018-19 is reported to be 9.2 percent higher than the previous fiscal. The revenue stood at Rs 98,114 crore during 2018-19.
The GST collection target for 2018-19 fiscal was lowered to Rs 11.47 lakh crore by the centre in the revised estimates, from Rs 13.71 lakh crore budgeted initially.
For fiscal 2019-20, the target for GST collection has been set-up at Rs 13.71 lakh crore.