GST collection touches Rs 86,703 crore | Current Affairs, Current Affairs 2018

GST collection touches Rs 86,703 crore

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Goods and Service Tax (GST) revenue collections have touched Rs 86,703 crores for December 2017 (received up to January 24).
According to an official release, GST collections stood at ₹80,808 crore in November and ₹83,000 crore in October. Before that it was significantly higher at ₹92,150 crore in September.
The Ministry further said that one crore taxpayers have been registered under GST of which 17.11 lakh are composition dealers, who are required to file returns every quarter, the Ministry further said. For the quarter July to September 2017, a total of 8.10 lakh returns were filed by such dealers who paid ₹335.86 crore as GST. Meanwhile for the quarter October to December 2017, 9.25 lakh returns were filed by the composition dealers who paid a total of ₹421.35 crore as GST.
Additionally, 56.30 lakh GSTR-3B returns were filed for December 2017 till January 24, 2018. Tax experts believe, GST revenues seem to have stabilised to some extent and will rise further in coming months.

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