At a time when the government is battling sluggish economic growth, the Goods and Services Tax (GST) collection figures are indicating a positive scenario. July saw GST collection of Rs 92,283 crore from 64.42 percent of the total taxpayer base. The government has already collected amount of Rs 90,669 crore in GST for August, the second month of the indirect tax regime rollout.
A government source shows that the situation will only improve further. "The total revenue of GST paid under different heads is Rs 90,669 crore, but these figures do not include GST paid by 10.24 lakh assessees who have opted for the composition scheme,"
According to a government release, the collection figure will increase as the last date for payment of GST as well as the filing of GSTR 3B return for August was September 20. Also, a large number of assessees have not filed their returns either for July or August.
The government disclosed that a similar upward revision has taken place in the July figure. According to the revised estimate, the GST mop-up for July stood at Rs 94,063 crore, up from the initial projection of Rs 92,283 crore. Total taxpayers who are supposed to file monthly returns for August is 68.20 lakh, of which, as on September 25, only 37.63 lakh GSTR 3B returns have been filed. A senior officer clarified that due to several reasons, assessees are filing belated returns for July and August.