GST collections top govt target, 64% file returns in July: Arun Jaitley

First month sees Rs 92,283 cr mop-up; Arun Jaitley says 'we have crossed the red line'

The collections under the goods and services tax (GST) in July, the first month of its roll-out, exceeded the Union and state governments’ target, even though 36 per cent of the assessees did not file returns.

The governments have earned Rs 92,283 crore, against the target of Rs 91,000 crore.

Extrapolating the targets in the annual Budget, the central government’s July tax revenue should have been Rs 48,000 crore. Assuming 14 per cent growth each in 2016-17 and 2017-18 over the 2015-16 revenues of the states, their tax kitty should have been more than Rs 43,000 crore for the month.