Business & Economy

Total revenue under GST is Rs. 90,669 crore for August 2017

NetIndian News Network

New Delhi, September 26, 2017

The total revenue of Goods and Service Tax (GST) paid under different heads for August 2017 (upto September 25) was Rs. 90,669 crore as compared to Rs. 92.283 crore paid in July, an official press release said here today.
Of this, the total Central GST (CGST) revenue is Rs. 14,402 crore, State GST (SGST) revenue is Rs. 21,067 crore, Integrated GST (IGST) revenue is Rs. 47,377 crore (of which IGST from imports in August 2017 is Rs. 23,180 crore) and Compensation Cess is Rs.7,823 crore (of which Rs. 547 crore is Compensation Cess from imports in August 2017), it said.
"The above figures obviously do not include the GST to be paid by 10.24 lakh assessees who have opted for the composition scheme. Additionally, there are still a number of assessees who have not filed their return either for July or August, 2017. The increase in the above stated figures will be informed in due course," the release said.
The Goods and Services Tax was introduced on July 1, 2017. Of the Rs. 92,283 crore paid under different heads for July (upto August 29), total CGST revenue was Rs. 14,894 crore, SGST revenue was Rs. 22,722 crore, IGST revenue was Rs. 47,469 crore (of which IGST from imports was Rs. 20,964 crore) and Compensation Cess was Rs. 7,198 crore (of which Rs. 599 crore is Compensation Cess from imports).
"Many assessees have been filing the returns for July 2017 belatedly and till 31st August, 2017 and the total GST paid for July is Rs. 94,063 crore," the release added.
The last date for payment of GST as well as filing of GSTR 3B return for the month of August 2017 was 20th September, 2017. The total number of tax payers who were required to file monthly returns for August 2017 is 68.20 lakhs, of which, as on 25th September, 2017, 37.63 lakh GSTR 3B returns have been filed.
NNN
NetIndian
www.netindian.in