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GST collections for March stand at Rs 97597 Cr

Posted Date : 02-Apr-2020 , 12:05:21 pm | Posted By CASANSAAR print Print
Goods and services tax collections for March, 2020 stood at Rs. 97,597 crore, lower than Rs. 1.05 lakh crore collected in February, 2020. Until February, GST collections crossed Rs. 1 lakh crore for four consecutive months.

Of the total Rs. 97,597 crore, central GST stood at Rs.19,183 crore, state GST at Rs.25,601 cr, integrated GST is Rs. 44,508 cr, which included Rs.18,056 cr collected on imports and compensation cess is Rs. 8,306 crore, which included Rs.841 crore collected on imports, the revenue department said in a statement on Wednesday.

The total number of GSTR-3B Returns filed for the month of February up to 31 March, 2020 is 7.65 million. Here's a chart that shows trends in monthly gross GST revenues during the current year.

The GST revenues during the month of March, 2020 from domestic transactions has shown a negative growth of 4% over the revenue during the month of March, 2019. For the full financial year, 2019-20, the GST for domestic transaction has shown a growth rate of 8% over the revenues during last year. During the year, GST from import on goods fell down by 8% as compared to last year. Overall, gross GST revenues grew at 4% over the last year’s GST revenue. #casansaar (Source - LiveMint, PTI)

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