Revenue collection from GST touches Rs 94,700 cr: Reports

Revenue collection from GST touches Rs 94,700 cr: Reports

07/09/2017 17:01

The Indian Government has said that around six lakh more businesses have filed returns and paid taxes in last one week, taking maiden revenue collections from GST to about Rs 94,700 crore.

As per reports, Finance Minister Arun Jaitley had last week stated that 38.38 lakh businesses had filed their returns and paid Rs 92,283 crore in taxes for the month of July – the first month of implementation of independent India’s biggest tax reform, the GST.

Commenting on the issue, a Government Official told the media, “Since then the number of returns filed has gone up to 44 lakh and over Rs 2,500 crore more has come in as taxes. The collections so far are from 74 per cent of the total taxpayer base and more people are likely to come in when the final returns are filed in GSTR 1, 2 and 3.”

As per reports, the GST, which unifies more than a dozen central and state levies like excise duty, service tax and VAT, kicked in from July 1 and requires all tax payers to register on the new tax platform, GST Network.

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