GST revenue collected in April exceeds Rs 1 Lakh crores: Finance Ministry
New Delhi : April marks as first ever month in which GST or Goods and Services Tax collection exceeded over Rs 1 Lakh Crores since the roll out of the indirect tax in July last year.
"The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance," the finance ministry further said.
Finance Ministry revealed that the total revenue earned by central and state governments in April stands at Rs 32,493 crore for CGST (Central GST) and Rs 40,257 crore for the SGST (State GST).
During the last year, the total revenue collected under Goods and Services Tax (GST) was Rs 7.19 lakh crore with an average monthly collection of Rs 89,885 crore during the period.
"Including the collection of July 2017, the total GST collection during the financial year 2017-18 stands provisionally at Rs. 7.41 lakh crore," an official statement said.
Of the total revenue collection, Central GST was Rs 1.19 lakh crore, State GST was Rs 1.72 lakh crore, Integrated GST was Rs. 3.66 lakh crore (including Rs. 1.73 lakh crore on imports) and cess was Rs. 62,021 crore (including Rs. 5702 crore on imports).