GST collection up to March

Marginal dip in February GST collection up to March 26 at Rs 85,174 crore

Total collected 88,929 crores at the last count of January.

NEW DELHI: Collection of goods and services tax (GST), marginal dip in February to Rs 85,174 crores GST collection up to March 26.

The last date for filing GST return is 20th of the successive months, but a significant number are still not filing by then. The total number of registered people for GST is now 1.05 crores.

The total collection for January till 25th February was Rs 86,314, of which only 69% with filing returns. This shows a similar rise in collection for February when more returns are filed.

The GST collection was on a peak of Rs 95,132 crore for September.

In a statement, the Finance Ministry said, “Around 59.51 lakh GSTR 3B returns were filed for the month of February till 25th March. It is 69% of the total taxpayers, who need to file monthly returns.”

“The total revenue received under GST for` February 2018 (received till March 26) has been` 85,174 crores,” it said.

For the month of February, Rs 85,174 crore collected as GST, Rs 14,945 crore Central GST, 20,456 crore State GST, 42,456 crore Integrated GST and Rs 7,317 crore compensation cess were included. Through the settlement, the total amount of Rs 25,564 crore is being transferred from IGST to CGST / SGST account. “Thus, the total collection of CGST and SGST is Rs. 27,085 crore and Rs. 33,880 crore respectively, till March 26 (for February), which includes transfers through settlement,” the Ministry said.

By March 25, 1.05 crore taxpayers were registered under GST- 18.17 lakh composition dealers, who need to file return returns every quarter, and the remaining 86.37 lakh taxpayers, who are required to file monthly returns.

CLARIFICATIONS ON JOB WORKERS

The government has clarified that a job worker is required to register for GST only, where in the financial year, their total national business is more than Rs 20 lakhs.

This has particular relevance for the automobile sector, where the principal manufacturer provides moulds and dies, jigs and fixtures, or tools to the job worker for use in the manufacturing process.

The Government has clarified that value of these supplies will be included in the job work services rendered by the job worker.

Pratik Jain, leader indirect tax, PwC, said, “The circular clarifies that the compliance burden for such transactions is on the principal manufacturer, and not on the job worker,” the industry has said that it settled many issues raised by the industry.

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