GST collection for September is 92,150 Crore

On Tuesday, The Government had declared that the total revenue of Goods and Service Tax (GST) paid under different heads for the month of September 2017 is Rs 92,150 Crore. The Ministry of Finance in its recent tweets informed that the total CGST revenue is Rs. 14,042 crore, the SGST revenue is Rs 21,172 crore, whereas the IGST revenue Rs 48,948 crore.

The revenue collected is up to 23rd October, 2017. The Ministry further said that the IGST revenue is Rs 48,948 crore consists of Rs 23,951 crore of IGST from imports in September 2017. The Compensation Cess stands at Rs 7,988 crore of which Rs 722 crore is Compensation Cess from imports in September 2017.

The total number of GSTR 3B returns filed for the month of September 2017 is 42.91 lakhs as on October 23, 2017. The Goods and Services Tax (GST) was introduced on 1st of July, 2017. The last date for payment of GST as well as filing of GSTR 3B return for the month of September 2017 was 20th October, 2017.

Inclusion of GST in the middle of the year has burdened many small and medium businesses. Many micro companies got closed and unemployment increased to manage the payment of Tax by employers. Even household expenses have increased and the budget increase made many to cut short on their daily needs.