FY 2018-19 - CGST targets revised downward by Rs 1 lakh Crore
Published: Feb 09, 2019
By TIOL News Service
NEW DELHI, FEB 09, 2019: GOING by the sluggish nature of growth in the GST collections the Ministry of Finance was compelled to revise the CGST estimates from Rs six lakh crore to Rs 5 lakh crore for the current fiscal.
Revised Estimates vis-à-vis Budget Estimates for the FY 2018-19 are as under:
|
Goods and Services Tax (GST) (in Rs. Crore)
|
Budget 2018-2019
|
Revised 2018-2019
|
|
CGST |
603900 |
503900 |
|
IGST |
50000 |
50000 |
|
GST Compensation Cess |
90000 |
90000 |
|
Total |
743900 |
643900 |
It is further submitted that the Month-Wise Gross Collection of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess for FY 2017-18 and FY 2018-19 are as under:
|
Month
|
GST collection (in Rs. Crore)
|
|
|
2017-18
|
2018-19
|
|
|
April |
-- |
1,03,459 |
|
May |
-- |
94,016 |
|
June |
-- |
95,610 |
|
July |
-- |
96,483 |
|
August |
95,633 |
93,960 |
|
September |
94,064 |
94,442 |
|
October |
93,333 |
100,710 |
|
November |
83,780 |
97,637 |
|
December |
84,314 |
94,726 |
|
January |
89,825 |
1,02,503 |
|
February |
85,962 |
-- |
|
March |
92,167 |
-- |
|
Average |
89,885 |
97,555 |
In view of the above facts, it is clear that the GST collection in the current FY (2018-19) has been showing improvement compared to last FY (2017-18). The average gross collection of GST in the Current FY 2018-19 is Rs. 97,555 crore (till January'19) as compared to last year average collection of Rs. 89,885 crore.
This was stated by Mr Shiv Pratap Shukla, Minister of State for Finance in a Written Reply to a Question in Lok Sabha yesterday.
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