GST collection dips in Feb.; 69% returns filed

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New Delhi, March 27: GST collections slid for the second consecutive month to ` 85,174 crore in February as only 69 per cent of the assessees filed returns.

Around 59.51 lakh GSTR 3B returns were filed for February. This is 69 per cent of the total taxpayers who are required to file the monthly returns, the finance ministry said in a statement. “The total revenue received under GST for the month of February 2018 ( received up to March 26) has been ` 85,174 crore,” it said.

The collection in January was ` 86,318 crore, while in December and November it was ` 88,929 crore and ` 83,716 crore.

Till March 25, 1.05 crore taxpayers had been registered under GST. Of these, 18.17 lakh are composition dealers who are required to file returns every quarter and the rest, 86.37 lakh, are required to file returns every month.

Of the ` 85,174 crore GST collected for February, ` 14,945 crore has been garnered as Central GST and ` 20,456 crore as State GST.

Besides, ` 42,456 crore has been collected as Integrated GST and ` 7,317 crore as compensation cess. A total amount of ` 25,564 crore is being transferred from IGST to CGST/ SGST account by way of settlement.

“Thus, the total collection of CGST and SGST up to 26th March ( for February) is ` 27,085 crore and ` 33,880 crore respectively, including transfers by way of settlement,” the statement added.

EY partner Abhishek Jain said the big hope would be the roll out of e- way bills to boost collections.