GST collection dips marginally to ~863.2 bn

Collections under the GST had registered an increase in Dec 2017, after declining in Nov and Oct following the decision of the GST Council to cut rates on more than 200 items

The collection of the goods and services tax (GST) slipped to ~863.18 billion in January from ~867.03 billion in December .“The total revenue received under the G ST for the month of January 2018( received in January/ February up to February 25) has been ~863.18 billion ,” the finance ministry said. The ministry said 10.3 million taxpayers had been registered under the G ST till February 25.

The collection of the goods and services tax (GST) slipped marginally to ~863.18 billion in January, from ~867.03 billion in December. “The total revenue received under the GST for January 2018 (received in January/February up to February 25, 2018) has been ~863.18 billion,” the finance ministry said in a statement.

Total collections under the GST had registered an increase in December 2017, after declining in November and October following the decision of the GST Council to cut rates on more than 200 items. The ministry said 10.3 million taxpayers have been registered under the GST till February 25, of which 1.76 million are composition dealers required to file returns every quarter. Of the total, 123,000 composition dealers have opted out of scheme, it said, adding “till February 25, there are 1.64 million composition dealers required to file returns every quarter and the rest 8.7 million taxpayers are required to file monthly returns.”