GST Collection Reduced To Rs 97,597 Crore In March 2020
The central government had set a target of Rs 1.25 lakh crore for the GST collection for March in January. But after collecting more than Rs 1 lakh crore for four consecutive months, again in March the collection came down to Rs 97,597 crore.
Earlier, in September last year, GST collection was Rs 91,916 crore and in October it was Rs 95,380 crore. Whereas in November, December, January, and February the GST collection was more than one lakh crore rupees.
The Goods and Services Tax (GST) collection dropped to Rs 97,597 crore in March due to the Coronavirus crisis. Earlier in February, the GST collection stood at Rs 1.05 lakh crore. GST collection decreased by 8.4 percent this year as compared to March-2019. The GST collection stood at Rs 1.06 lakh crore in March-2019.
In a statement released on Wednesday by the Finance Ministry, it said that out of Rs 97,597 crore, the central GST collection was Rs 19,183 crore. At the same time, the state GST was Rs 25,601 crore and the integrated GST collection stood at Rs 44,508 crore. It also includes Rs 18,056 crore received from imports. The Ministry informed that a total of 76.5 lakh GSTR-3B returns have been filed till 31 March 2020.0 Replies to “GST Collection Reduced To Rs 97,597 Crore In March 2020”