Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore.

&quot;Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018,&quot; the finance ministry said in a statement.

Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore.

The collections had declined in November after the GST Council cut rates on more than 200 items.

According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning.

This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said.

The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said.

The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter.

As many as 56.30 lakh GSTR 3B returns have been filed for December, it said.

For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore.

For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

The collections had declined in November after the GST Council cut rates on more than 200 items

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore. "Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018," the finance ministry said in a statement. Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore. The collections had declined in November after the GST Council cut rates on more than 200 items. According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning. This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said. The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said. The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter. As many as 56.30 lakh GSTR 3B returns have been filed for December, it said. For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore. For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

Budget 2018: GST collections reverse trend; rise to Rs 86,703 cr in December

<a href="https://timesofindia.indiatimes.com/topic/GST-collections" pg="AS1_InlineMedia#AS1_https://timesofindia.indiatimes.com/business/india-business/gst-collections-slip-to-rs-80808-crore-in-november/articleshow/62254633.cms~GST collections-https://timesofindia.indiatimes.com/topic/GST-collections">GST collections</a>&nbsp;slipped for a second straight month to Rs 80,808 crore in November, down from over Rs 83,000 crore in the previous month.

The total collection of&nbsp;<a href="https://timesofindia.indiatimes.com/business/gst" pg="AS1_InlineMedia#AS1_https://timesofindia.indiatimes.com/business/india-business/gst-collections-slip-to-rs-80808-crore-in-november/articleshow/62254633.cms~GST-https://timesofindia.indiatimes.com/business/gst">GST</a>&nbsp;till December 25 stood at Rs 80,808 crore for November and 53.06 lakh returns have been filed for the month, a finance ministry statement said. 
 
Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November - the fifth month of GST roll out. 
 
Besides, Rs 13,089 crore has been collected as Central GST, Rs 18,650 crore as State GST, Rs 41,270 crore as Integrated Goods and Services Tax. 
 
Further, Rs 10,348 crore is being transferred from IGST to CGST account and Rs 14,488 crore is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilisation of IGST credit for payment of CGST and SGST, respectively or due to inter-state business to consumer transactions.

Thus, a total amount of Rs 24,836 crore is being transferred from IGST to CGST/SGST account by way of settlement, the statement added. 
 
Thus, the total collection of CGST and SGST for the month of December 2017 (up to December 25) is Rs 23,437 crore and Rs 33,138 crore, respectively.

As per the data available, GST collections in July was over Rs 95,000 crore, while in August the figure was over Rs 91,000 crore. 
 
In September, it was over Rs 92,150 crore and in October it was over Rs 83,000 crore.

Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November

GST collections slipped for a second straight month to Rs 80,808 crore in November, down from over Rs 83,000 crore in the previous month. The total collection of GST till December 25 stood at Rs 80,808 crore for November and 53.06 lakh returns have been filed for the month, a finance ministry statement said. Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November - the fifth month of GST roll out. Besides, Rs 13,089 crore has been collected as Central GST, Rs 18,650 crore as State GST, Rs 41,270 crore as Integrated Goods and Services Tax. Further, Rs 10,348 crore is being transferred from IGST to CGST account and Rs 14,488 crore is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilisation of IGST credit for payment of CGST and SGST, respectively or due to inter-state business to consumer transactions. Thus, a total amount of Rs 24,836 crore is being transferred from IGST to CGST/SGST account by way of settlement, the statement added. Thus, the total collection of CGST and SGST for the month of December 2017 (up to December 25) is Rs 23,437 crore and Rs 33,138 crore, respectively. As per the data available, GST collections in July was over Rs 95,000 crore, while in August the figure was over Rs 91,000 crore. In September, it was over Rs 92,150 crore and in October it was over Rs 83,000 crore.

GST collections slip to Rs 80,808 crore in November

The Indian government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh businesses, the finance ministry said today.

Of this, Rs 14,042 crore is on account of GST collected by the central government, while state governments have collected GST to the tune of Rs 21,172 crore. 

Integrated GST collections stood at Rs 48,948 crore, of which Rs 23,951 crore was on account of imports.

&quot;The total revenue of GST paid under different heads (up to October 23, 2017) for the month of September 2017 is Rs 92,150 crore,&quot; the finance ministry said in a statement.

Collection under compensation cess stood at Rs 7,988 crore, of which Rs 722 crore is compensation cess from imports in September.

Till Monday, 42.91 lakh business entities had filed initial GSTR-3B returns for September.

As per the data available, GST collections for the maiden month of July were more than Rs 95,000 crore, while for August the figure crossed Rs 91,000 crore. 

September was the third month of GST rollout.

GST, which combines more than a dozen taxes, including excise duty and service tax, was rolled out on July 1.&nbsp;

Out of the 92,150 crores, Rs 14,042 crores is on account of Central GST, while State GST is to the tune of Rs 21,172 crores

The Indian government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh businesses, the finance ministry said today. Of this, Rs 14,042 crore is on account of GST collected by the central government, while state governments have collected GST to the tune of Rs 21,172 crore. Integrated GST collections stood at Rs 48,948 crore, of which Rs 23,951 crore was on account of imports. "The total revenue of GST paid under different heads (up to October 23, 2017) for the month of September 2017 is Rs 92,150 crore," the finance ministry said in a statement. Collection under compensation cess stood at Rs 7,988 crore, of which Rs 722 crore is compensation cess from imports in September. Till Monday, 42.91 lakh business entities had filed initial GSTR-3B returns for September. As per the data available, GST collections for the maiden month of July were more than Rs 95,000 crore, while for August the figure crossed Rs 91,000 crore. September was the third month of GST rollout. GST, which combines more than a dozen taxes, including excise duty and service tax, was rolled out on July 1.

Goods and Services Tax: Rs 92,150 crore collection in September

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Budget 2018: GST collections reverse trend; rise to Rs 86,703 cr in December

GST collections slip to Rs 80,808 crore in November

Goods and Services Tax: Rs 92,150 crore collection in September