{"id":4271,"date":"2018-04-29T10:13:21","date_gmt":"2018-04-29T04:43:21","guid":{"rendered":"https:\/\/taxclick.org\/?p=4271"},"modified":"2018-04-29T10:14:09","modified_gmt":"2018-04-29T04:44:09","slug":"gst-revenue-collections-financial-year-2017-18","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/","title":{"rendered":"GST Revenue Collections for the Financial Year 2017-18"},"content":{"rendered":"

Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018<\/h2>\n
\n

During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, Rs. 3.66 lakh crore of IGST (including Rs. 1.73 lakh crore on imports) and Rs. 62,021 crore of cess (including Rs. 5702 crore on imports). For this eight months, the average monthly collection has been Rs. 89,885 crore.<\/p>\n

While the tax on domestic supplies in a month is collected through the process of returns and gets collected in the next month, IGST and cess on imports gets collected in the same month. Therefore, during the current year, GST on domestic supplies has been collected only in eight months from August 2017 to March 2018, IGST and cess on imports has been collected for nine months, from July 2017 to March 2018.\u00a0Including the collection of July 2017, the total GST collection during the financial year 2017-18 stands provisionally at Rs. 7.41 lakh crore<\/strong>.<\/p>\n

Revenue of the States<\/strong><\/h3>\n

The SGST collection during the year, including the settlement of IGST has been Rs. 2.91 lakh crore and the total compensation released to the States for a period of eight months during the last financial year was Rs. 41,147 crore to ensure that the revenue of the States is protected at the level of 14% over the base year tax collection in 2015-16. The revenue gap of each State is coming down over last eight months. The average revenue gap of all states for last year is around 17%.<\/p>\n

Return Filing During the year<\/strong><\/h3>\n

There has been a progressive improvement in the compliance level observed during the course of the year. Following table shows the percentage of returns filed as on due date and the cumulative level of compliance.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Return Period<\/strong><\/td>\nRequired to file<\/strong><\/td>\nTill due date<\/strong><\/td>\nCumulative<\/strong><\/td>\n<\/tr>\n
Returns<\/strong><\/td>\n%<\/strong><\/td>\nReturns<\/strong><\/td>\n%<\/strong><\/td>\n<\/tr>\n
July ’17<\/td>\n6647581<\/td>\n3834877<\/td>\n57.69%<\/td>\n6388549<\/td>\n96.10%<\/td>\n<\/tr>\n
Aug ’17<\/td>\n7370102<\/td>\n2725183<\/td>\n36.98%<\/td>\n6851732<\/td>\n92.97%<\/td>\n<\/tr>\n
Sep ’17<\/td>\n7823806<\/td>\n3934256<\/td>\n50.29%<\/td>\n7109143<\/td>\n90.87%<\/td>\n<\/tr>\n
Oct ’17<\/td>\n7721075<\/td>\n4368711<\/td>\n56.58%<\/td>\n6777440<\/td>\n87.78%<\/td>\n<\/tr>\n
Nov ’17<\/td>\n7957204<\/td>\n4913065<\/td>\n61.74%<\/td>\n6765603<\/td>\n85.02%<\/td>\n<\/tr>\n
Dec ’17<\/td>\n8122425<\/td>\n5426278<\/td>\n66.81%<\/td>\n6747887<\/td>\n83.08%<\/td>\n<\/tr>\n
Jan ’18<\/td>\n8322611<\/td>\n5394018<\/td>\n64.81%<\/td>\n6694387<\/td>\n80.44%<\/td>\n<\/tr>\n
Feb ’18<\/td>\n8527127<\/td>\n5451004<\/td>\n63.93%<\/td>\n6562362<\/td>\n76.96%<\/td>\n<\/tr>\n
Mar ’18<\/td>\n8715163<\/td>\n5458728<\/td>\n62.63%<\/td>\n5630683<\/td>\n64.61%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

As may be seen, the compliance level as on the due date has steadily increased and, by the end of the financial year, has reached to an average of 65% from around 55-57% observed during initial months. The cumulative compliance levels (percentage of returns filed till date) for initial months has crossed 90% and for July, 2018, has reached 96%.<\/p>\n

There are State-wise variations in the compliance level observed till due date. However, including delayed filings, the State-wise compliance levels converge over a period of time.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[15],"tags":[217],"yoast_head":"\nGST Revenue Collections for the Financial Year 2017-18 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GST Revenue Collections for the Financial Year 2017-18 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"All About Finance\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-29T04:43:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-29T04:44:09+00:00\" \/>\n<meta name=\"author\" content=\"Taxclick Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Taxclick Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\"},\"author\":{\"name\":\"Taxclick Team\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\"},\"headline\":\"GST Revenue Collections for the Financial Year 2017-18\",\"datePublished\":\"2018-04-29T04:43:21+00:00\",\"dateModified\":\"2018-04-29T04:44:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\"},\"wordCount\":417,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"keywords\":[\"GST\"],\"articleSection\":[\"GST\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\",\"url\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\",\"name\":\"GST Revenue Collections for the Financial Year 2017-18 - All About Finance\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/#website\"},\"datePublished\":\"2018-04-29T04:43:21+00:00\",\"dateModified\":\"2018-04-29T04:44:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/taxclick.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GST Revenue Collections for the Financial Year 2017-18\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/taxclick.org\/#website\",\"url\":\"https:\/\/taxclick.org\/\",\"name\":\"All About Finance\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/taxclick.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/taxclick.org\/#organization\",\"name\":\"All About Finance\",\"url\":\"https:\/\/taxclick.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"contentUrl\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"width\":235,\"height\":68,\"caption\":\"All About Finance\"},\"image\":{\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\",\"name\":\"Taxclick Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"caption\":\"Taxclick Team\"},\"description\":\"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.\",\"url\":\"https:\/\/taxclick.org\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GST Revenue Collections for the Financial Year 2017-18 - All About Finance","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/","og_locale":"en_US","og_type":"article","og_title":"GST Revenue Collections for the Financial Year 2017-18 - All About Finance","og_description":"Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, ... Read more","og_url":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/","og_site_name":"All About Finance","article_published_time":"2018-04-29T04:43:21+00:00","article_modified_time":"2018-04-29T04:44:09+00:00","author":"Taxclick Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Taxclick Team","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#article","isPartOf":{"@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/"},"author":{"name":"Taxclick Team","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227"},"headline":"GST Revenue Collections for the Financial Year 2017-18","datePublished":"2018-04-29T04:43:21+00:00","dateModified":"2018-04-29T04:44:09+00:00","mainEntityOfPage":{"@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/"},"wordCount":417,"commentCount":0,"publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"keywords":["GST"],"articleSection":["GST"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/","url":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/","name":"GST Revenue Collections for the Financial Year 2017-18 - All About Finance","isPartOf":{"@id":"https:\/\/taxclick.org\/#website"},"datePublished":"2018-04-29T04:43:21+00:00","dateModified":"2018-04-29T04:44:09+00:00","breadcrumb":{"@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/taxclick.org\/type\/gst\/gst-revenue-collections-financial-year-2017-18\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/taxclick.org\/"},{"@type":"ListItem","position":2,"name":"GST Revenue Collections for the Financial Year 2017-18"}]},{"@type":"WebSite","@id":"https:\/\/taxclick.org\/#website","url":"https:\/\/taxclick.org\/","name":"All About Finance","description":"","publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/taxclick.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/taxclick.org\/#organization","name":"All About Finance","url":"https:\/\/taxclick.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/","url":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","contentUrl":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","width":235,"height":68,"caption":"All About Finance"},"image":{"@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227","name":"Taxclick Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","caption":"Taxclick Team"},"description":"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.","url":"https:\/\/taxclick.org\/author\/admin\/"}]}},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"yarpp-thumbnail":false},"uagb_author_info":{"display_name":"Taxclick Team","author_link":"https:\/\/taxclick.org\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST,…","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/4271"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=4271"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/4271\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=4271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=4271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=4271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}