In a First, GST Collections Cross Rs 1 Lakh Crore in April; Arun Jaitley Calls it a 'Landmark'

New Delhi: Goods and Services Tax (GST) collection for the month of April reached Rs 1,03,458 crore, ministry of finance said in a statement on Tuesday.

"The total gross GST revenue collected in the month of April 2018 is Rs1,03,458 crore of which CGST is Rs 18,652 crore, SGST is Rs 25,704 crore, IGST is Rs 50,548 crore (including 21,246 crore collected on imports) and cess is Rs 8,554 crore (including Rs 702 crore collected on imports)," said the ministry in its statement.

Finance Minister Arun Jaitley termed it a landmark achievement. "GST collections in April exceeding Rs 1 lakh crore is a landmark achievement and a confirmation of increased economic activity as brought out by other reports," Jaitley said in a tweet.

The total revenue registered after settlement in April is Rs 32,493 crore for CGST and Rs 40,257 crore for the SGST. 69.5% eligible tax-payers filed their returns in April.

“The total number of GSTR 3B returns filed for the month of March up to 30 April is Rs 60.47 lakh as against Rs 87.12 lakh,” added the ministry.

The ministry also said that the buoyancy in GST tax revenue was a sign of upswing in the economy adding that it also reflected better compliance. “It is usually noticed that in the last month of the Financial Year, people also try to pay arrears of some of the previous months also and, therefore, this month’s revenue cannot be taken as trend for the future,” cautioned the ministry.

The GST Council on December 16 approved mandatory compliance of the E-Way Bill for the inter-state movement from February 1 to curb tax evasion, the trial run for which started on Monday.

In the 23rd GST Council meeting in November tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were cut to provide relief to consumers and businesses amid the economic slowdown.

Hundred and seventy eight items of daily use were shifted from the top tax bracket of 28% to 18%, while a uniform 5% tax was prescribed for all restaurants, both air-conditioned and non-AC.