The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities,” said Finance Minister Arun Jaitley
The total gross GST revenue collected in the month of October, 2018 is Rs. 100,710crore of which CGST is Rs. 16,464crore, SGST is Rs. 22,826crore, IGST is Rs. 53,419crore (including Rs. 26,908crore collected on imports) and Cess is Rs. 8,000 crore(including Rs. 955crore collected on imports).
The Finance Ministry said, in a document released on Thursday, that the total number of GSTR 3B Returns filed for the month of September up to 31st October, 2018 is 67.45lakh.
“GST collections for October 2018 have crossed Rs 1 lakh crore. The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities,” Finance Minister Arun Jaitley tweeted.
The Government has settled Rs. 17,490 crore to CGST and Rs. 15,107 crore to SGST from IGST as regular settlement. Further, Rs .30,000crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States. The total revenue earned by Central Government and the State Governments after regular and provisional settlement in the month of October, 2018 is Rs. 48,954 crore for CGST and Rs. 52,934crore for the SGST.
The Revenue collected in October, 2018 of Rs. 100,710 crore is higher by 6.64% as compared to September, 2018 collection of Rs. 94,442 crore. The chart shows trends in revenue during the current year. The States which achieved extra- ordinary growth in total taxes collected from the State assesses include Kerala (44%), Jharkhand (20%), Rajasthan (14%), Uttarakhand (13%) and Maharashtra (11%).