GST revenue collection dips marginally in January to Rs 863.18 bn


The collection of Goods and Services Tax (GST) slipped marginally to Rs 863.18 billion in January, from Rs 867.03 billion in December.
"The total revenue received under GST for the month of January 2018 (received in January/February up to February 25, 2018) has been Rs 863.18 billion" the finance ministry said in a statement.
Total collections under the GST had registered an increase in December 2017 after declining in the two previous months of November and October following the decision of the GST Council to cut rates on more than 200 items.
The ministry said that 10.3 million taxpayers have been registered under GST till February 25, of which 1.76 million are composition dealers who are required to file returns every quarter.
Of the total, 123,000 composition dealers have opted out of scheme and have thus become regular taxpayers, it said, adding that "till February 25 there are 1.64 million composition dealers which are required to file returns every quarter and the rest of 8.7 million taxpayers are required to file monthly returns."

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