GST revenue collection rises to Rs 95.6 cr in June

GST revenue collection rises to Rs 95.6 cr in June
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New Delhi: The Goods and Services Tax (GST) collections in June rose to Rs Rs 95,610 crore from of Rs 94, 016 crore last month, according to the Ministry of Finance’s notification.

As the introduction of GST completes one year, the monthly average collection in the last financial year was Rs 89, 885 crore.

Of the total GST collections, Central GST (CGST) is Rs 15,968 crore, State GST (SGST) is Rs. 22,021 crore, Integrated GST (IGST) is Rs 49,498 crore (including Rs. 24,493 crore collected on imports) and cess is Rs. 8,122 crore (including Rs. 773 crore collected on imports), according to the statement.

Total number of GSTR 3B Returns filed for the month of May up to June 2018 is 64.69 lakh.

The total revenue earned by central government and state governments after settlement in the month of June 2018 is Rs. 31,645 crore for CGST and Rs. 36,683 crore for SGST.

June’s revenue collection is Rs. 95,610 crore as compared to last month’s revenue of Rs. 94,016 crore. Further, the gross revenue collection in the month of June 2018 is Rs. 95,610 crore whereas monthly average of GST collection in the last financial year was Rs. 89,885 crore.

In the month of June, 2018 additional provisional settlement has been done and Rs. 50,000 crore has been settled between centre and states. The said provisional settlement has been done in addition to the earlier provisional settlement of Rs. 35,000 crore in February, 2018.(ANI)