First Month of new financial year has started on a good note for the government with collection from the Goods and Services Tax (GST) crossing ₹1.13 lakh crore — an all-time high — in April. This is the fifth time that the ₹1-lakh-crore mark has been breached since the introduction of the new indirect tax regime.
Revenue in April 2019 was 10.05 per cent higher than April 2018 (₹1,03,459 crore). The total number of GSTR 3B Returns filed for March up to April 30 is 72.13 lakh. The revenue in April 2019 is 16.05 per cent higher than the monthly average GST revenue reported in financial year 2018-19 (₹98,114 crore).
For FY20, GST collection has been budgeted at ₹13.71 lakh crore, which means the average monthly collection should be slightly over ₹1.14 lakh crore.
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