The government hit the highest Goods and Services Tax collection since its roll out for April. The government reported a 10.05 percent year-on-year rise in the Goods and Services Tax (GST) revenue collected in April 2019. The government also reported a total gross GST collection of Rs 1,13,865 crore for the month.
Collections have been consistently going up since August. It hit a record high last month of Rs 1.06 lakh crore, up from Rs 97,247 crore in the month before due high compliance and increased number of returns.
Cess, which is a tax on tax, had a collection of Rs 9,168 crore, including Rs 1,053 crore received on imports. The total number of GSTR 3B Returns filed for the month of March up to April 30 was 72.13 lakh.
The government settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement. Further, Rs 12,000 crore has been settled equally from the balance IGST on a provisional basis between the Centre and states.
The total revenue earned by the central government and state governments after settlements in April stood at Rs 47,533 crore for CGST and Rs 50,776 crore for SGST.
Revenues in April are 16.05 percent higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).
For the financial year 2019-20, the government has devised GST collection target of Rs 6.10 lakh crore from CGST and Rs 1.01 lakh crore as compensation cess. The IGST balance has been is drawn at Rs 50,000 crore for the fiscal. In comparison, the CGST collection during 2018-19 was Rs 4.25 lakh crore, while compensation cess was over Rs 97,000 crore.
