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Buoyed by GST collections exceeding Rs 1 lakh crore in April, Finance Minister Arun Jaitley today said it is a landmark achievement and a confirmation of increased economic activity. The government mopped up Rs 1.03 lakh crore in GST collection in April, indicating stabilisation of the new indirect tax regime, which was rolled out on July 1 last year.
While Goods and Services Tax (GST) collection in entire 2017-18 stood Rs 7.41 lakh crore, in March the figure was Rs 89,264 crore. “GST collections in April exceeding Rs 1 lakh crore is a landmark achievement and a confirmation of increased economic activity as brought out by other reports,” Jaitley said in a tweet. In another tweet, he said with the improved economic climate, introduction of e-way bill and improved GST compliance, the indirect collections would continue to show a positive trend.
Earlier in the day, the Finance Ministry said: “The total gross GST revenue collected in April 2018 is Rs 1,03,458 crore of which CGST is Rs 18,652 crore, SGST is Rs 25,704 crore, IGST is Rs 50,548 crore (including Rs 21,246 crore collected on imports) and Cess is Rs 8,554 crore, including Rs 702 crore collected on imports.
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