Economy

GST collections dip for second straight month in February

Our Bureau New Delhi | Updated on March 27, 2018 Published on March 27, 2018

Mop-up slips to ₹85,174 crore; number of registered taxpayers goes up

Goods and Services Tax (GST) revenues slipped for the second straight month in February to ₹85,174 crore. In January 2018 and December 2017, it had been ₹86,318 crore and ₹ 86,703 crore, respectively.

According to data released by the Finance Ministry on Tuesday, the number of registered taxpayers under GST increased to 1.05 crore in February, from 1.03 crore in the previous month.

Till March 25, 59.51 lakh GSTR-3B returns were filed for the month of February 2018. “This is 69 per cent of the total taxpayers required to file monthly returns,” said the Ministry.

Improved compliance

This indicates a partial increase from 57.78 lakh GSTR-3B returns filed in the previous month and reflects improved compliance.

In terms of the mop-up, ₹14,945 crore was collected as Central GST (CGST) and ₹20,456 crore as State GST (SGST).

With settlements of ₹25,564 crore from Integrated GST (IGST), the total collections of CGST for February rose to ₹27,085 crore while SGST stood at ₹33,880 crore.

A total of ₹42,456 crore was collected as IGST and another ₹7,317 crore as compensation cess.

Of the total registered taxpayers, 18.17 lakh are composition dealers who are required to file returns every quarter and the rest of 86.37 lakh taxpayers are required to file monthly returns.

Published on March 27, 2018
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