GST collection jumps to ₹1L cr in Dec 2019, exceeds year-ago period by 16%
At a time when the Union government is on the back-foot over the state of the economy, given the fact that the data on growth has been consistently falling with each passing quarter, the news on GST collection is sure to shore up its spirits.
It has been revealed that the gross Goods & Services Tax (GST) revenue collected in the month of December, 2019 is 16 per cent over and above the GST collected in December, 2018. However, it is lower than GST collections of November, 2019 by about ₹308 crores.
The amount collected in 2019 is ₹1,03,184 crore of which CGST is ₹19,962 crore, SGST (₹26,792 crore), IGST (₹48,099 crore including ₹21,295 crore collected on imports) and Cess (₹8,331 crore including ₹47 crore collected on imports). This is sharp contrast to the ₹94,762 crore collected in 2018.
State-wise Gross Domestic GST Collection for the month of December, 2019 pic.twitter.com/08YRI3Tofb
— Ministry of Finance (@FinMinIndia) January 1, 2020
The total number of GSTR 3B returns filed for the month of November up to 31st December, 2019 is 81.21 lakh. Also, for the first ever time, in recent months, an actual break-up of the state-wise collections has been made available.
In the past the Press Information Bureau (PIB) used to release, every month, details of overall GST collection figures, which consists of mop-up under Central GST, Integrated GST, State GST and compensation cess. The official release also included the number of returns filed under GSTR 3B as well as state and central GST collections after settling Integrated GST.
Jammu and Kashmir according to data has shown a jump of nearly 40% in GST collection. This has come as a surprise as Internet access, needed to file GST returns was not available in the state last month and there were innumerable complaints from the ground on problem with GSTR3B.
Maharashtra tops the list in GST collections followed by Karnataka, Gujarat, Tamil Nadu and Uttar Pradesh.
When one looks at the state break up we can see that the Union Territories have shown a considerable jump in their UTGST collections.
The Union territory GST is applied to Union territories of Chandigarh, Lakshadweep, Daman and Diu, Dadra and Nagar Haveli, Andaman and Nicobar Islands. A separate GST was implemented for the Union Territories as a common State GST (SGST) cannot be applied to Union Territories without legislatures. Since Delhi and Puducherry UTs have their own legislatures, SGST is applicable to them.
Meanwhile, Finance minster Thomas Isaac, tweeted, “It is a laughable conclusion that slowdown may have bottomed out because GST revenue crossed ₹1L cr.”
It is a laughable conclusion that slowdown may have bottomed out because GST revenue crossed ₹1L cr. It is due to suo moto revisions along with annual returns,limits imposed on input credit claims and penal blocking of e-way bills.A lone sparrow doesn’t make it spring.#GST
— Thomas Isaac (@drthomasisaac) January 2, 2020