Published: Fri, October 27, 2017
Economy | By Melissa Porter

September GST mop-up at Rs 92150 crore from almost 43L taxpayers

September GST mop-up at Rs 92150 crore from almost 43L taxpayers

The government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh business, the finance ministry said on Tuesday.

In some much-needed reprieve for traders and small businesses facing difficulties in complying with filing GST returns, the Centre on Tuesday announced that it had chose to waive the penalty levied on account of delayed filing for the months of August and September.

The Ministry notified that the total GST revenue is Rs. 14,042 crore, SGST revenue is Rs. 21,172 crore and IGST revenue is Rs. 48,948 crore.

In July, the first month since GST was launched, the tax collection was over Rs 95,000 crore and the figure stood at a little over Rs 91,000 crore in August. However confusion around the new tax regime continued even three months later.

Also, compensation cess reported was Rs. 7,988 crore, of which Rs. 722 crore is compensation cess from imports in September 2017. September was the third month of GST roll out.

GST was rolled out on July 1, 2017.

"To facilitate taxpayers, late fee on filing of GSTR-3B for Aug&Sept has been waived".

He said that the late fee which has been already charged to businesses will be credited back to taxpayers' accounts.

The penalty on delayed filing of initial GST returns for the months of August and September have been dropped for the ease of taxpayers.

On October 20, Ajay Bhushan Pandey who is Chairman of GST Network had said by noon that day as many as 33 lakh GST returns for September were filed.

GSTR 3B is summary returns of sale and input purchases filed by assessees to pay taxes by the deadline of 20th of the following month. While only 33.98 lakh returns were filed for July till the due date, the number has now increased up to 55.87 lakh. While in July the numbers stood at 18 lakh assesses who filed GSTR 3B.

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