Goods and Services Tax – GST – Dated:- 27-4-2018 – GST Revenue Collections for the Financial Year 2017-18 Total Revenue of ₹ 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been ₹ 7.19 lakh crore. This includes ₹ 1.19 lakh crore of CGST, ₹ 1.72 lakh crore of SGST, ₹ 3.66 lakh crore of IGST (including ₹ 1.73 lakh crore on imports) and ₹ 62,021 crore of cess (including ₹ 5702 crore on imports). For this eight months, the average monthly collection has been ₹ 89,885 crore. While the tax on domestic supplies in a month is collected through the process o
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at the revenue of the States is protected at the level of 14% over the base year tax collection in 2015-16. The revenue gap of each State is coming down over last eight months. The average revenue gap of all states for last year is around 17%. Return Filing During the year There has been a progressive improvement in the compliance level observed during the course of the year. Following table shows the percentage of returns filed as on due date and the cumulative level of compliance. Return Period Required to file Till due date Cumulative Returns % Returns % July '17 6647581 3834877 57.69% 6388549 96.10% Aug '17 7370102 2725183 36.98% 6851732 92.97% Sep '17 7823806 3934256 50.29% 7109143 90.87% Oct '17 7721075 4368711 56.58%
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