November 2018 GST collections fall below Rs 1 lakh crore :
In the wake of breaking the Rs 1-lakh crore-check in October, income gathering under the Goods and Services Tax (GST) slides to Rs 97,637 crore in November.
The income gathered in November identifies with exchanges made in October. The aggregate GST income gathered in October (for September) was Rs 1,00,710 crore.
The Finance Ministry said a sum of 69.6 lakh GSTR-3B returns were recorded till November 30, acquiring Rs 16,812 crore as Central GST (CGST), Rs 23,070 crore as state GST (SGST), Rs 49,726 crore as Integrated GST (IGST) and Rs 8,031 crore as cess.
While the CGST and SGST demonstrated a minor enhancement over a month ago when they were Rs 16,464 crore and Rs 22,826 crore, individually, the shortage in income was for the most part by virtue of IGST which was Rs 53,419 crore in October. The cess gathered in October was Rs 8,000 crore.
“The legislature has settled Rs 18,262 crore to CGST and Rs 15,704 crore to SGST from IGST as standard settlement. The aggregate income earned by the Central and state governments after normal settlement in the long stretch of November is Rs 35,073 crore for CGST and Rs 38,774 crore for the SGST,” the Finance Ministry proclamation said.
Rs 11,922 crore has been discharged to the states as GST remuneration for the long stretches of August and September, it said.