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GST collection in September rises, fails to meet target

October 2, 2018

The GST revenue collected by the Centre in September this year crossed Rs 94,000 crore, according to an official release by the Ministry of Finance. However, it still failed to reach the target of Rs 1 lakh crore.

The ministry said the revenue collected in September shows an upward trend as compared to the August collection, which was ₹93,690 crore.

A slew of tax rate cuts and failing to check tax evasion led to GST revenues missing the monthly collection targets. This will lead to the government’s dependence on direct tax collections to meet its fiscal target for 2018-19.

According to the release, the total gross GST revenue collected in September 2018 was Rs 94,442 crore, of which CGST was Rs 15,318 crore, SGST was Rs 21,061 crore, IGST was Rs 50,070 crore (including Rs 25,308 crore collected on imports) and Cess was Rs 7,993 crore (including Rs 769 crore collected on imports.

The total number of GSTR 3B returns filed for the month of August up to September 30, 2018 was Rs 67 lakh.

The total revenue earned by the central and the state governments after the settlement in September 2018 was Rs 30,574 crore for CGST and Rs 35,015 crore for the SGST.

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