Annapurna Singh, DH News Service, New Delhi, Aug 29 2017, 19:48 IST
Jaitley said 38.3 lakh out of 59.57 lakh registered taxpayers have so far filed GST returns. PTI File Photo
The Centre has netted Rs 92,283 crore from the first monthly filings under the Goods and Services tax (GST) for July. The kitty is expected to swell further as close to 22 lakh remaining traders will file their returns.
“38.38 lakh people have filed their return for July under the GST where as the total number of registered traders is 59.57 lakh,” Finance Minister Arun Jaitley said at a brief press meet.
He said the government has exceeded the target of GST collection by close to Rs 1,300 crore. “The target for July was Rs 91,000 crore. Not many people thought that the deadline would be crossed in the first month itself,” Jaitley said.
The deadline for filing the July returns was August 25. Those who have not done that can file with Rs 100 fine per day for as many days delayed.
Of the Rs 92,283 crore, Rs 7,198 crore has come from cess on demerit goods. Rs 14,894 crore have come from Central GST and Rs 22,722 crore from State GST. The Integrated GST has garnered Rs 47,469 crore. The finance minister said that the IGST will now be allocated between the Centre and states.
He said 72.33 lakh tax payers have already migrated to GST regime. If the GST collections are compared with the tax collected under the VAT regime in the month of July last year, it is Rs 37,283 crore more year-on-year. The excise and service tax together accounted for a little over Rs 55,000 crore for the month of July last year.