For The First Time, This is the Total GST Collection in 2018
Total revenue collection in February under GST stood at Rs 89,264 crore, which is more than Rs 1,217 crore than last month. Last week, the Finance Ministry had introduced the initial data for February GST collection, which saw a decrease of 1,144 crore compared to January. According to those figures, revenue collection in February was Rs 85,174 crore. Finance Secretary Hasmukh Adhia gave this information on Monday. Total GST Collection in 2018.
“Usually these figures are issued on the 24th and the 26th of every month, but the figures for the last month of the financial year are more than a few thousand crore more than the initial data.” He said, “The GST collection in February shows an increase in the average fund, now we are on the figure of 90,000 crore.”
According to the figures released by the government, the GST collection in January was 88,047 crores.
while in December it was 88,929 crores. Adhia said that in view of increased GST compliance for the increased collection in February and the last month of the financial year, the tendency of depositing all the outstanding taxes in people shows the trend.
Recently, it is also said that Aadhaar linking now will not be mandatory for bank accounts or Phones for now until Court further pass its agreement.
In line with the commitment to pay all outstanding GST refunds of the government, the central indirect taxes and customs boards (CBIC) have successfully completed the Refund, Co-Exclusive Mission from March 15, 2018 to March 31, 2018. The success of these efforts has become visible in the amount of refunds accepted during this period. Upto the end of March 31, 2018, the refund of Rs 4265 crore and refund of IGST has been approved in refund fortnight so that the total amount has reached Rs 9604 crore.
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He said, “Despite this year being filled with irregularities according to revenue, the government has managed to meet the direct and indirect tax goals in this financial year.” He said, “We are confident for the next finance goal.”