GST collection in April crosses Rs. 1 lakh crore
Author: Desk May 3, 2018
The GST collection in April has crossed Rs. 1 lakh crore. The figures reflect the upswing in the economy and better compliance. April was also the month for filing of quarterly Return for composition dealers.
Out of 19.31 lakh composition dealers, 11.47 lakh have filed their quarterly return (GSTR 4) which is 59.40% and have paid total tax of Rs.579 crores, which is included in the above figure of Rs.1.03 lakh crore of total GST collection.
The total revenue earned by Central Government and the State Governments after settlement in the month of April, 2018 is Rs.32,493 crore for CGST and Rs.40,257 crore for the SGST.
Union Finance Minister Arun Jaitley tweeted to express satisfaction on the developments. He called it a landmark achievement and confirmation of increased economic activity.
In another tweet, he said that with the improved economic climate, introduction of e-way bill and improved GST compliance, the indirect collections would continue to show a positive trend.