India’s gross goods and services tax collections stood at Rs. 1.02 lakh crore in July 2019, a growth of 5.8% over same month previous fiscal. “Total gross GST revenue collected in the month of July 2019 is Rs. 1,02,083 crore of which central GST is Rs. 17,912 crore, state GST is Rs. 25,008 crore, integrated GST is Rs. 50,612 crore and cess is Rs. 8,551 crore,” a finance ministry statement said late Thursday.
Revenue collection in July 2018 stood at Rs. 96,483crore. Collections had dipped below the psychological mark of Rs. 1lakh crore in June 2019 to Rs. 99,939 crore. For 2019-20, the government proposes to collect Rs. 6.10 lakh crore from CGST and Rs. 1.01 lakh crore as compensation cess. The IGST balance has been pegged at Rs. 50,000 crore. It would need to collect GST over Rs. 1 lakh crore every month to achieve the budgeted target. The Centre released Rs. 17,789 crore to the states as GST compensation for the months of April and May, it said. The total number of GSTR 3B Returns filed for the month of June up to 31st July 2019 is 75.79 lakh.
