GST Revenue Collection 2023 Month and Year wise

GST Revenue Collection 2023. Total CGST, SGST and IGST since July 1, 2017. Goods and Services Tax paid by filing GST returns by Taxpayers.

AUBSP
in

Share:

GST Revenue collection for March 2023. The collection during March and April 2023 will be updated here. Rs 1,55,922 crore gross GST revenue collected in the month of January 2023 Second highest collection ever, next only to the Rs 1.68 lakh crore gross collection in April 2022.

From 1st July 2017, the Goods and Services Tax (GST) tax was introduced in India. GST tax shall be paid by registered GST tax payers in compliance with the provisions of GST Act, 2017.

There are various types of returns under GST Law viz. GSTR-1, GSTR-2, GSTR-3, GSTR-3B, GSTR-4, GSTR-5, GSTR-6, GSTR-7, GSTR-8, GSTR-9, GSTR-10.

In this article, you will come to know the GST tax collection from various GST returns filed since July 1, 2017. The month-wise consolidated figures of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government from first return to last month return is as under:

GST Revenue collection April 2019

The revenue in April, 2019 is 16.05% higher than the monthly average of GST revenue in FY 2018-19 (₹98,114 crore). Total Gross GST revenue collected in the month of April, 2019 is ₹1,13,865 crore of which:-

  • CGST is ₹21,163 crore;
  • SGST is ₹28,801 crore;
  • IGST is ₹54,733 crore (including ₹23,289 crore collected on imports); and
  • Cess is ₹9,168 crore (including ₹1053 crore collected on imports).

The total number of GSTR-3B Returns filed for the month of March up to 30th April, 2019 is 72.13 lakh.

The total revenue earned by Central Government and the State Governments after regular and provisional settlement in the month of April, 2019 is ₹47,533 crore for CGST and ₹50,776 crore for the SGST.

The government has settled ₹20,370 crore to CGST and ₹15,975 crore to SGST from IGST as regular settlement. Further, ₹12,000 crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States.

  • August, 2017 GST Revenue Collection: ₹93,590 Crores
  • September, 2017 GST Revenue Collection: ₹93,029 Crores
  • October, 2017 GST Revenue Collection: ₹95,132 Crores
  • November, 2017 GST Revenue Collection: ₹85,931 Crores
  • December, 2017 GST Revenue Collection: ₹83,716 Crores
  • January, 2018 GST Revenue Collection: ₹88,929 Crores
  • February, 2018 GST Revenue Collection: ₹88,047 Crores
  • March, 2018 GST Revenue Collection: ₹89,264 Crores
  • April, 2018 GST Revenue Collection: ₹1,03,459 Crores

GST Revenue Collection by first GST Return filed July 2017

The last date for payment of GST tax for the month of July 2017 was 25th August, 2017 and the last date for filing returns in cases, where the taxpayer wanted to avail transitional credit was 28th August, 2017 and, in all other cases, it was 25th August, 2017.

Did you know? Out of total 72.33 lakh taxpayers, 58.53 lakh taxpayers have completely migrated to the GSTN and 13.80 lakh taxpayers are yet to complete their procedural formalities to migrate to the GSTN. The number of new taxpayers who have registered with the GSTN upto 29th August, 2017 (10 a.m.) is 18.83 lakhs.

First GST Return Summary:

There were 59.57 lakhs GST tax payers were required to file the GST returns for the month of July 2017. However, only 38.38 lakhs GST return were filed as on 29th August, 2017 (10 a.m.) for the month of July 2017. That means only 64.42% of the total number of returns were filed by taxable person registered under GST Act, 2017.

Note that the above figure does not include the taxpayers who have registered with the GSTN in August 2017 and the composition dealers. The registration of large number of assesse under GST will facilitate the effective implementation of GST.

  • No. of GST Registered Tax Payers: 59357 Lakhs
  • No. of GST return filed For July 2017: 38.38 Lakhs
  • Amount of GST tax Collected: ₹92,283 Crore
    • CGST Revenue: ₹14,894 Crore
    • SGST Revenue: ₹22,722 Crore
    • IGST Revenue: ₹47,469 Crore (Including imports ₹20,964 Crore)
    • Cess: 7,198 Crore (Including Compensation Cess from imports ₹599 crore)

₹92,283 Crore GST tax were collected up to 29-Aug-2017 at 10:00 a.m. from the GST registered tax payers who have filed their first GST return under different heads. Out of which total CGST revenue is ₹14,894 crore, SGST revenue is ₹22,722 crore, IGST revenue is ₹47,469 crore (of which IGST from imports is ₹20,964 crore) and Cess is ₹7,198 crore (of which ₹599 crore is Compensation Cess from imports).

IGST has been allocated the CGST and the SGST to the extent that the same is used for payment of CGST/SGST. This exercise will be done based on the cross-utilisation report to be received from the GSTN. Exact revenue figures of the Central and the State Governments respectively will be known after this exercise is complete before the end of this month.

Our Finance Minister (FM), Sri Arun Jaitley said that July GST collections of ₹92,000 crore exceeded target. As more people, complete GST Registration formalities and pay GST taxes with the late fee, total receipts could further improve. While the state GST target of ₹43,000 crore and the Union government’s target of ₹48,000 crore as a whole has been achieved, the government is yet to assess if individual states have met their targets.

Download Dec 2024 Edition

GST and Company Law Book

(Bare Acts, Rules, Rates and Exemptions)

More Detail