GST collections rise to Rs 964.83 bn in July, 6.6 mn GSTR 3B forms filled

GST

GST collections rose to Rs 964.83 billion in July from Rs 956.1 billion mopped up in the previous month.

The total number of sales return GSTR 3B filed for the month of July is 6.6 million compared to 6.46 million filed in June.

"The total gross GST revenue collected in July 2018 is Rs 964.83 billion," a finance ministry statement said.

Of this, collection on account or Central GST is Rs 158.77 billion, State GST (Rs 222.93 billion), Integrated GST (Rs 499.51 billion) and Cess is Rs 83.62 billion (including Rs 7.94 billion collected on imports).

"This (the revenue collection) is broadly on expected lines," it said.

 

Besides, Rs 38.99 billion has been released to States as GST compensation for April-May, 2018, it added.

The revenue collection figures do not reflect the impact of the recent tax rate cuts on 88 items.

Tax rates on consumer durables like washing machine, mixer grinder, fridge, as well as footwear up to Rs 1,000, paints and varnishes and sanitary napkins have been cut with effect from July 27.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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