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New Delhi: The Ministry of Finance on Tuesday said the monthly revenue collection through Goods and Services (GST) mechanism exceeded Rs 1 lakh crore in April this year. It is the first time the GST collection breached Rs 1 trillion target.
The gross GST revenue collected in April 2018 came at Rs 1,03,458 crore of which Central GST (CGST) is Rs 18,652 crore and State GST is Rs 25,704 crore. The Integrated GST (IGST) came at Rs 50,548 crore while cess accounted for Rs 8,554 crore.
Earlier happy with this GST collection, Finance minister Arun Jaitley congratulated various stakeholders hailing the record as “a landmark achievement and a confirmation of increased economic activity”. I would like to congratulate all taxpayers, members of the GST Council, state and Central government tax administration for this achievement,” he tweeted.
“The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance. Out of 87.12 lakh taxpayers, 60.47 lakh filed GSTR-3B, resulting in 69.5 per cent compliance,” the Finance Ministry tweeted.
The jump in GST collection may also be linked to the roll out of e-way bills which was touted as a major anti-evasion measure.