India

GST collection for January stands at Rs 86318 cr

GST collection for January stands at Rs 86318 cr

New Delhi: Rupees 86,318 crore has been collected as the Goods and Services Tax (GST) revenue for January 2108, said the Ministry of Finance on Tuesday.

“The last date for filing of GSTR 3B return for the month of January 2017 was 20th February 2018. The total revenue received under GST for the month of January 2017 (received in January/February up to February 25) has been Rs. 86,318 crore,” said the Ministry of Finance in a statement.

A total of 1.03 crore taxpayers have been registered under GST so far till February 25, 2018.

“So far 17.65 lakh dealers got registered as composition dealers. Out of these, 1.23 lakh composition dealers have opted out of composition scheme and have thus become regular taxpayers. Thus, till February 25, 2018 there are 16.42 lakh composition dealers which are required to file returns every quarter and the rest of 87.03 lakh taxpayers are required to file monthly returns,” said the ministry.

A total of 57.78 lakh GSTR 3B returns have been filed for the month of January, 2018 till February 25, 2018, that is 69 percent of total taxpayers which are required to file monthly returns.

As far as revenue of states is concerned, Rs 14,233 crore has been collected as CGST. Rs. 19,961 crore has been collected as SGST, Rs. 43,794 crore as IGST and Rs. 8,331 crore as Compensation cess.

The Ministry further said that a total amount of Rs. 24,806 crore is being transferred from IGST to CGST/SGST account by way of settlement. (ANI)