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GST - December collections hover around Rs 81K Crore by Dec 25, 2017

Published: Dec 26, 2017

By TIOL News Service

NEW DELHI, DEC 26, 2017: THE total collection under GST for the month of December 2017 has been Rs. 80,808 crores till December 25, 2017. A little over 99.01 lakh taxpayers have been registered under GST so far till December 25, 2017, of which 16.60 lakh are composition dealers which are required to file returns every quarter. 53.06 lakh returns have been filed for the month of November till December 25, 2017.

Of the Rs. 80,808 crores collected under GST for the month of December, 2017, Rs 13,089 crores have been collected as CGST, Rs. 18,650 crores has been collected as SGST, Rs. 41,270 crores has been collected as IGST and Rs. 7,798 crores has been collected as Compensation cess.

Further, Rs. 10,348 crores is being transferred from IGST to CGST account and Rs. 14,488 crores is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilization of IGST credit for payment of CGST and SGST respectively or due to inter State B2C transactions. Thus, a total amount of Rs 24,836 crores is being transferred from IGST to CGST/SGST account by way of settlement. Thus, the total collection of CGST and SGST for the month of December, 2017 (upto 25th December) is Rs. 23,437 crores and Rs. 33,138 crores respectively, including transfers by way of settlement.