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Targets for GST revenue this year

Posted on 07 April 2018,    
 3006    Share  Report

The month-wise figures of Central Goods and Services Tax (CGST), State Goods and Services Tax(SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under:


(Amount in Rs. Crores)

Month

Collection

August, 2017

93,590

September, 2017

93,029

October, 2017

95,132

November, 2017

85,931

December, 2017

83,716

January, 2018

88,929

February, 2018

88,047

March, 2018

89,264


No targets for collection of GST have been fixed. In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and States and among States and mechanism of apportionment of fund under IGST.

As per provisions in Section 7 of the GST (Compensation to States) Act, 2017, the loss ofrevenue arising on account of implementation of GST regime and compensation for loss of revenue to the States shall be provisionally calculated and released at the end of every two months for five years. The GST Compensation paid to the States on bimonthly basis for the period of July 2017 to February, 2018 is as below: -


(Amount in Rs. Crores)

Period

Amount of GST

compensation paid

July - August, 2017

10,806

Sept. - October, 2017

13,694

Nov. – Dec., 2017

3,898

Jan. – Feb., 2018

12,749


This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.

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