INSUBCONTINENT EXCLUSIVE:
Finance Ministry said a total of 73.3 lakh GSTR-3B returns were filed till January 31.Reversing the declining trend of two months, the
revenue collection under the Goods and Services Tax (GST) showed a marked improvement in January and stood at Rs 1,02,503 crore, crossing
the Rs 1-lakh crore-mark only for the third time this fiscal.The January collection was also 14 per cent higher than last year's collection
in the same month, the Finance Ministry said on Saturday.The revenue collected in January relates to transactions made in December
The collection in December (for November transactions) was Rs 94,726 crore, down from Rs 97,637 crore in November.The last time the GST
collections had breached the Rs 1-lakh crore-mark was in October when it stood at Rs 1,00,710 crore.Out of the Rs 1,02,503 crore collected
in January, Rs 17,763 crore was collected as Central-GST (CGST), Rs 24,826 crore as State-GST (SGST), Rs 51,225 crore as Integrated-GST
(IGST) and Rs 8,690 crore as cess, the Ministry said."In FY19, it is for the third time that GST revenue collection has crossed Rs 1 lakh
jump has been achieved despite various tax reductions having come into force that provided major relief to the consumers
The gross GST collections over the last three-month period has been 14 per cent higher than the corresponding period last year," it
statedThe announcement of GST figures crossing the Rs 1-lakh crore-mark was already made by the Finance Minister Piyush Goyal on Friday
during his Interim Budget speech, when he said the collection for the month was expected to be at around Rs 1,03,000 crore
However, the actual numbers were released on Saturday.The average monthly GST collection this year has been Rs 97,100 crore, as compared to
Rs 89,700 crore last year.Find LIVE Budget 2019, updates, latest news, videos, key highlights, reactions, tax and policy changes here
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