GST Revenue Targets FY 2017-18

By | April 6, 2018
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(Last Updated On: April 6, 2018)
Ministry of Finance

GST Revenue Targets

Posted On: 06 APR 2018 5:36PM by PIB Delhi

The month-wise figures of Central Goods and Services Tax (CGST), State Goods and Services Tax(SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under:

 

 (Amount in Rs. Crores)
Month Collection 
August, 2017 93,590 
September, 2017 93,029 
October, 2017 95,132 
November, 2017 85,931 
December, 2017 83,716 
January, 2018 88,929 
February, 2018 88,047 
March, 2018 89,264 

 

No targets for collection of GST have been fixed. In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and States and among States and mechanism of apportionment of fund under IGST.

As per provisions in Section 7 of the GST (Compensation to States) Act, 2017, the loss ofrevenue arising on account of implementation of GST regime and compensation for loss of revenue to the States shall be provisionally calculated and released at the end of every two months for five years. The GST Compensation paid to the States on bimonthly basis for the period of July 2017 to February, 2018 is as below: –

 (Amount in Rs. Crores)
   
PeriodAmount of GST 
compensation paid 
  
July – August, 201710,806 
Sept. – October, 201713,694 
Nov. – Dec., 20173,898 
Jan. – Feb., 201812,749 

 

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.

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  1. Pingback: GST revenue collection for June 2018 Rs 95,610 crore - Tax Heal

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