Govt collects Rs 95,610 cr GST in June

Govt collects Rs 95,610 cr GST in June

The GST collections were Rs 94,016 crore in May and Rs 1.03 lakh crore in April. In the first year of GST in 2017-18, the government earned Rs 7.41 lakh crore. The total cess collected in the financial year gone by was Rs 62,021 crore.

The Goods and Services Tax (GST) revenue for the month of June, 2018 was at Rs 95,610 crore with Finance Minister Piyush Goyal expressing the hope that the collections will top Rs 13 lakh crore mark this fiscal ending March 2019.

"I assure you that average monthly GST collection will cross Rs 1.10 lakh crore ... I feel more than Rs 13 lakh crore revenue will come from GST this fiscal,” Goyal said at the 'GST-Day' celebrations here.

The GST collections were Rs 94,016 crore in May and Rs 1.03 lakh crore in April. In the first year of GST in 2017-18, the government earned Rs 7.41 lakh crore. The total cess collected in the financial year gone by was Rs 62,021 crore.

“The more people get into the honest and transparent system and with the success of e-way bill system, we will be in a better position to rationalise tax slabs. The different rate slabs were kept after considering the social structure of the nation... Is it proper to tax luxury cars and items of common items used by poor people?" Goyal said.

He asked Finance Secretary Hasmukh Adhia to consider allowing composition scheme dealers to file returns yearly instead of quarterly at present.

Goyal also said that the finance ministry will set up a helpline on which common man can register the complaint if they were charged extra by traders for providing them invoices on a transaction.

 

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