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GST collections in May down to Rs 94,016 Crore

Published: Jun 01, 2018

By TIOL News Service

NEW DELHI, JUNE 01, 2018: THE total gross GST revenue collected in the month of May 2018 is Rs 94,016 crore of which CGST is Rs.15,866 crore, SGST is Rs 21,691 crore, IGST is Rs. 49,120 crore (including Rs 24,447 crore collected on imports) and Cess is Rs.7,339 crore (including Rs.854 crore collected on imports). The total number of GSTR 3B Returns filed for the month of April up to 31 st May, 2018 is 62.47 lakh.

The total revenue earned by Central Government and the State Governments after settlement in the month of May, 2018 is Rs 28,797 crore for CGST and Rs 34,020 crore for the SGST.

Though current month's revenue collection is less compared to last month's revenue, still the gross revenue collection in the month of May (Rs. 94,016 crore) is much higher than the monthly average of GST collection in the last Financial Year (Rs. 89,885 crore). The April revenue figure was higher because of year end effect.

On 29.05.2018, Rs 6696 crore has been released to the states as GST compensation for the month of March, 2018. Therefore, the total GST compensation released to the states for the FY 2017-18 (Jul, 2017 to Mar, 2018) has been Rs. 47844 crore.