New Delhi: The Goods and Services Tax (GST) collections for February dropped to Rs 97,247 crore from January’s Rs 1.02 lakh crore, the Finance Ministry said Friday. The number of sales return or GSTR-3B filed for the month of January up to February 28, 2019 is 73.48 lakh. For the next fiscal 2019-20, the GST collection target has been budgeted at Rs 13.71 lakh crore. Also Read - Petrol, Diesel Can't Be Brought Under GST For Next 8-10 Years, BJP MP Sushil Modi Tells Parliament, Explains Reasons
“The total gross GST revenue collected in February 2019 is Rs 97,247 crore of which Central GST is Rs 17,626 crore, State GST (SGST) is Rs 24,192 crore, Integrated GST (IGST) is Rs 46,953 crore and Cess is Rs 8,476 crore,” the ministry said in a statement. Also Read - High Petrol, Diesel Prices Burden on Consumers; Tax Cut Should be Joint Call of Centre, States: FM
Goods and Services Tax (GST) collections in the current fiscal till February totalled Rs 10.70 lakh crore. The government has lowered the GST collection target for current fiscal to Rs 11.47 lakh crore in the Revised Estimates, from Rs 13.71 lakh crore budgeted initially. Also Read - CAIT Announces Nationwide Movement Against New Amendments in GST and E-Commerce
Earlier in January, the Goods and Services Tax (GST) collections had crossed the Rs 1 lakh crore mark. While presenting the Interim Budget 2019-20, Goyal said the Rs 1 lakh crore barrier in average monthly collections seen over the past two years had finally been broken this January with the collection for last month expected to be at around Rs 103,000 crore.
(With inputs from agencies)