New Delhi: A day after Nirmala Sitharaman assumed the office of Ministry of Finance, the department released the data on gross revenue collection through Goods and Services Tax (GST) on Saturday. For the third month in a row, the government has managed to collect revenue over one lakh crore.
The total gross GST revenue collected in the month of May 2019 stands at Rs 1,00,289 crore of which Central Goods and Services Tax (CGST) is Rs 17,811 crore, State Goods and Services Tax (SGST) is Rs 24,462 crore, Integrated Goods and Services Tax (IGST) is Rs 49,891 crore (including Rs 24,875 crore collected on imports) and Cess is Rs 8,125 crore (including Rs 953 crore collected on imports).
The government has settled Rs 18,098 crore to CGST and Rs 14,438 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of May 2019 is Rs 35,909 crore for CGST and Rs 38,900 crore for the SGST.
The revenue in May 2018 was Rs 94,016 crore and the revenue during May 2019 is a growth of 6.67% over the revenue in the same month last year. The revenue in May 2019 is 2.21% higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).
Rs 18,934 crore has been released to the states as GST compensation for the months of February-March, 2019.
“The total number of GSTR 3B Returns filed for the month of April up to 31st May 2019 is 72.45 lakh,” the government said through an official statement.