New Delhi : It’s a new bench mark day for India.India’s monthly goods and services tax (GST) collections crossed Rs 1 lakh crore for the first time in April. Gross GST revenue in April stood at Rs 1,03,458 crore, of which central GST was Rs 18,652 crore, state GST Rs 25,704 crore and integrated GST Rs 50,548 crore, including Rs 21,246 crore collected on imports. The compensation cess collected was Rs 8,554 crore, including Rs 702 crore on imports, the government said.

The total number of GSTR 3B returns filed for March up to April 30 was 6.05 million against 8.71 million registered for GST and required to file returns. The filings by the due date were 69.5% of the total, higher than the trend in earlier months. April was also the month for filing of quarterly returns by small businesses that have opted for the composition scheme, which involves a lower tax payout and minimal paperwork.

Out of 1.93 million composition dealers, 1.15 million, or 59.4%, filed quarterly returns and paid a total tax of Rs 579 crore. “While the filing of 3B returns has improved and touched almost 70%, for composition dealers this continues to be less than 60%,” Jain said. “With only Rs 579 crore coming from these dealers, the government might want to investigate it in detail.”

 

 

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