NEW DELHI: THE Goods and Services tax collection for the month of July stood at Rs 1,02,083 crore, marginally higher than the Rs 99,939 crore collected last month.
Although the revenue collection has registered a growth of 5.80 per cent over the same month last year, when Rs 96,483 crore was collected, the collection is way below the average monthly target set by the government, of Rs 1.10 lakh crore.
Of the total collection, CGST is Rs 17,912 crore, SGST is Rs 25,008 crore, IGST is Rs 50,612 crore (including Rs 24,246 crore collected on imports), and cess is Rs 8,551 crore (including Rs 797 crore collected on imports).
The total number of GSTR 3B returns filed for the month of June up to July 31, 2019 was 75.79 lakh.
“During April-July 2019 vis-a-vis 2018, the domestic component has grown by 9.2 per cent while the GST on imports has come down by 0.2 per cent and the total collection has grown by 6.83 per cent. Rs 17,789 crore has been released to the states as GST compensation for the months of April-May, 2019,” the finance ministry said in a statement. Increasing tax evasion and the slow process of refunds remain challenges for the government.
According to data released by the Controller General of Accounts on Wednesday, net tax receipts in the first three months of the fiscal year stood at Rs 2.51 lakh crore.