Setting up a new record, GST collections have registered a new high and inflated to Rs 1.06 Lac Cr from Rs 97,247 Cr during March 2019.
“Total gross GST revenue collected in March 2019 is Rs 1,06,577 Cr of which Central GST is Rs 20,353 Cr, State GST is Rs 27,520 Cr, Integrated GST is Rs 50,418 Cr and Cess is Rs 8,286 Cr,” said the official statement communiqué.
As per the official figures, the total number of summary sales return GSTR-3B filed for February and up to March 31, recorded at 75.95 lakh
Gross GST revenue collected in the month of March, 2019 is Rs. 1,06,577 Cr of which CGST is Rs. 20,353 Cr, SGST is Rs.27,520 Cr, IGST is Rs.50,418 Cr (including Rs. 23,521Cr collected on imports) and Cess is Rs. 8,286 Cr (including Rs. 891Cr collected on imports). The total number of GSTR 3B Returns filed for the month of February up to 31st March, 2019 is 75.95lakh.
The Government has settled Rs.17, 261Cr to CGST and Rs. 13,689Cr to SGST from IGST as regular settlement. Further, Rs. 20,000Cr 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 March, 2019 is Rs. 47,614 Cr for CGST and Rs. 51,209 Cr for the SGST.
The collection during March, 2019 has been the highest since introduction of GST. The revenue in March, 2018 was Rs. 92,167Cr and the revenue during March, 2019 is a growth of 15.6% over the revenue in the same month last year. The revenue for the last quarter in the year 2018-19 is 14.3% higher than the revenue collected during the same period last year. The monthly average of GST revenue during 2018-19 is Rs. 98,114 Cr which is 9.2% higher than FY 2017-18. These figures indicate that the revenue growth has been picking up in recent months, despite various rate rationalization measures
April was also the month for filing of quarterly returns for composition dealers, it said.
Out of 19.31 Lac composition dealers, 11.47 Lac have filed their quarterly return (GSTR 4) and have paid total tax of Rs 579 Cr, which is included in Rs 1.03 Lac Cr of total GST collection, it added.
The GST collection target for 2018-19 fiscal was lowered to Rs 11.47 Lac Cr by the centre in the revised estimates, from Rs 13.71 lakh Cr budgeted initially.
For fiscal 2019-20, the target for GST collection has been set-up at Rs 13.71 Lac Cr.
GST Monthly Collection
From 1st July 2017, GST has been implemented in India. Here we are providing Monthly Collection statics from GST Tax. How much you have paid to India Govt. in Account of GST. India govt. gets revenue from GST tax in monthly in thousands of Cr. The tax is collected by govt. in name of Development.
Moreover, GST is not the only tax, there are many more taxes in the form of which the govt. gains access o your hard earned money - Excise Duty, VAT on Petrol and Diesel, Stamp Duty, Royalty, Custom Duty, Professional Tax, Income Tax, Various penalties are some examples off the top of my head.
IB VIEW – The Government is going on a very good model and the GST collection is increasing on continuous basis. We believe that the ongoing Tax revenue will also increase in current financial year which will lead to the decrement of the Fiscal Deficit for the year 2019-20.
Therefore, it becomes quite tough for the stock traders to consider the people so they would like to invest in the stock trading market.
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The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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The Global Polyvinyl Alcohol Fibers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
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