Thursday, March 14News That Matters

Centre collects Rs 92,000 crore through GST in July, Exceeded Target

Finance Minister Arun Jaitley on Tuesday said that the government has collected Rs 92,283 crore in Goods and Service Tax (GST) for the month of July so far.

The total amount collected includes the Central GST of Rs 14,894 crore, State GST of Rs 22,722 crore and integrated GST of Rs 47,469 crore. He further said that the Integrated GST will be allotted between the states and the Centre. Within the IGST, the tax collected from imports stands at Rs 20,964 crore.

The Rs 92,283 crore includes a compensation cess of Rs 7,198 crore.

The Finance Minister said that around 38 lakh entities had filed their returns.

Jaitley said that it was “best to put the GST numbers authentically in the public domain.”

The Finance Minister said that little more than 64 percent eligible tax payers had complied so far, taking the total number of migrated tax payers to 72.33 lakh. Out of these those who have filled the forms are 58.53 lakh. The rest are yet to fulfil the formalities.

Other than those, the number of newly approved tax payers stands at 18.83 lakh.

According to the minister, the Centre’s combined target for the month of July was Rs 91,000 crore.

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