The total Goods and Services Tax (GST) revenue for July was at Rs 96,483 crore, broadly in line with centre’s expectations, a little over a year after the tax structure came into force.
The total gross revenue includes Central Goods and Services Tax (CGST) of Rs 15,877 crore, State Goods and Services Tax (SGST) of Rs 22,293 crore, Integrated Goods and Services Tax (IGST) of Rs 49,951 crore (including Rs 24,852 crore collected on imports) and Cess is Rs 8,362 crore (including Rs 794 crore collected on imports).
According to the estimates made in the 2018-19 union budget by the revenue department, the government expects to have a monthly average of GST collections of Rs 1.15 lakh crore.
Experts say it is tough to meet such a target, however. Finance secretary Hasmukh Adhia also said GST mop-up of Rs 1 lakh crore is still not a norm.
The total number of GSTR 3B returns filed till July 31 is 66 lakh compared to GSTR 3B returns filed till June 30 was 64.69 lakh, the statement said.
Rs 3,899 crore has been released to the states as GST compensation for the months of April-May, 2018.
The revenue figures are formally announced by the finance ministry on the first day of every month, which comes in with a one month lag.
First Published: IST