Ministry of Finance

GST Revenue Targets

Posted On: 06 APR 2018 5:36PM by PIB Delhi

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 of revenue 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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DSM/RM/KA

 



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