Government raises Rs 9,223 crore in first month of GST

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Government raises Rs 9,223 crore in first month of GST. In the first month after the commencement of the Goods and Services Tax (GST) across the country, the government collected tax of GSAT amounting to Rs 92,283 crore in the first month. A total of 38.38 lakh returns have been filed for this period, which is 64.42% of the total GST number holders.

GST 10 TAX

Government raises Rs 9,223 crore in first month of GST

Union Finance Minister Arun Jaitley said on Tuesday evening that if the GSTN had left the traders and composition dealers registered during August 2017, it would have been necessary for the month of July to file a return of 59.57 lakh businessmen or firms.
On August 29, 2017, by 10 o’clock, 38.38 lakh returns were filed, which means 64.42 percent of the traders filed returns for July. He said that till July 10, for the month of July 29, 2017, till 10 o’clock in the morning, the government has deposited Rs 9,223 crore in GST.

Out of this amount, Rs. 14894 crore in CGST item, Rs. 22722 crore in SGST item, Rs. 47469 crore in IGST item and Rs. 7198 crore in case of cess.

It is notable that before the GST, there were total 72.33 lakh taxpayers registered in the Central Tax Department and the Commercial Tax Department of the States. Out of these, 58.53 lakh taxpayers got their migration completely done in GSTN while 13.8 lakh taxpayers’ migration process still remains to be done.

According to the government, till 18th August, 2017, till 10 o’clock, 18.83 lakh new taxpayers have registered with GSTN.

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