Tuesday, October 24, 2017

Recovery of ₹ 92,150 crores in GST in September

In September, the government has recovered ₹ 92,150 crore through 42.11 lakh business establishments as Goods and Services Tax (GST) in September, the Finance Ministry said on October 24.

Out of this, 14,042 crores are due to Central GST, while State GST is 21,172 crores. Compiled GST collections were ₹ 48,948 crore, of which 23,951 crore was due to imports.

The finance ministry said in a statement that the total income of GST for the month of September 2017 is different heads (till October 23, 2017) ₹ 92,150 crore. The collection under the compensation cess amounted to Rs 7,988 crore, out of which Rs 722 crore was a return from the import duty.

By October 23, 42.91 lakh business enterprises registered initial GST-3B returns in September. According to the available data, the first month of July's GST collection is about Rs. Over 95,000 crores, while August's figure was 91,000 crores. September comes out of the third month of GST.

GST, which accumulates more than a dozen taxation, including Excise Duty and Services Tax, it was started from 1st July.

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