GST collection falls to Rs 851.74 bn in February; only 69% file returns

The collection had marginally slipped in January to Rs 863.18 billion from Rs 867.03 billion in December

GST collections slid for the second straight month to Rs 851.74 billion in February as only 69 per cent of the assessees filed returns.

Around 5.951 million GSTR 3B returns were filed for the month of February till March 25. This is 69 per cent of total taxpayers who are required to file monthly returns, the finance ministry said in a statement.

"The total revenue received under GST for the month of February 2018 (received up to March 26) has been Rs 863.18 billion," it said.

The collection in January was Rs 863.18 billion, while in December and November was Rs 889.29 billion and Rs 837.16 billion respectively.

Of the Rs 851.74 billion collected as GST for the month of February, Rs 149.45 billion have been garnered as Central GST and Rs 204.56 billion as State GST. Beside, Rs 424.56 billion has been collected as Integrated GST and Rs 73.17 billion as compensation cess.

A total amount of Rs 255.64 billion is being transferred from IGST to CGST/SGST account by way of settlement.

"Thus, the total collection of CGST and SGST up to 26th March (for February) is Rs 255.64 billion and Rs 338.8 billion respectively, including transfers by way of settlement," the statement added.

Till March 25, 10.5 million taxpayers have been registered under GST. Of these, 181.7 million are composition dealers which are required to file returns every quarter and the rest of 863.7 million taxpayers are required to file monthly returns.

According to a finance ministry reply to the Lok Sabha, GST collections were Rs 935.9 billion in July, Rs 930.29 billion in August, Rs 951.32 billion in September and Rs 859.31 billion in October.