GST Revenue collection for March, 2019 crossed 106000 Crore recorded Highest Collections

GST Revenue collection for March, 2019 crossed 106000 Crore recorded Highest Collections: Total Gross GST revenue collected in the month of March, 2019 isRs. 1,06,577croreof which CGST isRs. 20,353crore, SGST isRs.27,520crore, IGST isRs.50,418crore(includingRs. 23,521crorecollected on imports) and Cess is Rs.8,286 crore(includingRs. 891crorecollected on imports). The total number of GSTR 3B Returns filed for the month of February up to 31^stMarch, 2019 is75.95lakh. The Government has settledRs.17,261crore to CGST andRs. 13,689crore to SGST from IGST as regular settlement. Further, Rs. 20,000crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States. The total revenue earned by Central Government and the State Governments after regular and provisional settlement in the month of March, 2019 isRs.47,614 crorefor CGST andRs.51,209 crorefor the SGST. The collection during March, 2019 has been the highest since introduction of GST. The revenue in March, 2018 wasRs. 92,167crore and therevenue during March, 2019 is a growth of 15.6%over the revenue in the same month last year. Therevenue for the last quarter in the year 2018-19 is 14.3% higherthan the revenue collected during the same period last year. The monthly average of GST revenue during 2018-19 isRs. 98,114 crorewhich is 9.2% higher than FY 2017-18. These figures indicate that the revenue growth has been picking up in recent months, despite various rate rationalization measures.