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TMI BlogGST REVENUE COLLECTION – A GLANCEX X X X Extracts X X X X X X X X Extracts X X X X ..... GST REVENUE COLLECTION – A GLANCE - By: - Mr. M. GOVINDARAJAN - Goods and Services Tax - GST - Dated:- 12-6-2020 - - Introduction GST was introduced with effect from 01.07.2017 with the motto One Tax One Nation . The then indirect taxes except customs were subsumed in GST. There are four types of tax in GST viz., Central Tax, State/Union Territory Tax, Integrated tax and Compensation cess. For central tax, state/union territory tax and integrated tax there are nearly 4 slab rates viz., 5%, 12%, 18% and 28%. In this article the GST revenue collection from the date of inception to March 20202 was analyzed. Gross GST Collection Table 1 Gross GST Collection from 2017 18 to 2019 - 20 (in crores) Month 2017-18 2018-19 2019-20 April 103459 113865 May 94016 100289 June 95610 99939 July 21572 96483 102083 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... August 95633 93960 98202 September 94064 94442 91916 October 93333 100710 95380 November 83780 97637 103492 December 84314 94725 103184 January 89825 102503 110818 February 85962 97247 105366 March 92167 106577 97579 TOTAL 740650 1177369 1222131 Source: www.gstcouncil.gov.in From the above it can be inferred that the collection of GST has witnessed up and down but it has gradually stabilized with passage of time. The GST Council observed that GST Revenue (before settlement) had witnessed a growth rate of 19.4% in the corresponding period of 2018 19 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver 2017 18. Further GST Revenue s growth in 2019 20 was 3.8% over the previous financial year i.e., 2018 -19. Central Tax Revenue A comparative analysis of central tax revenue accrued to the Central Government for the last three financial years are represented in the following table- Table - 2 Central Tax Revenue from 2017-18 to 2019 - 20 (in crores) Month 2017-18 2018-19 2019-20 April 18653 21163 May 15866 17811 June 15968 18366 July 10 15877 17912 August 15252 15303 17733 September 15131 15318 16630 October 14962 16464 17582 November 13690 16812 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19592 December 13928 16442 19962 January 14874 17763 20944 February 14763 17625 20569 March 16266 20353 19183 TOTAL 118876 202444 227447 Source: www.gstcouncil.gov.in From the above table it can be inferred that the revenue accrues to the Central Government is on the increase. In the first of implementation of GST it is somewhat less for the 8 months. April 2019 witnesses the highest collection among the period from 2017 18 to 2019 20. State/Union Territory Tax Revenue A comparative analysis of State/Union Territorhy tax revenue accrued to the Central Government for the last three financial years are represented in the following table- Table 3 State/Union Territory Tax Revenue from 2017 18 to 2019 - 20 (in crores) Month 2017-18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018-19 2019-20 April 25704 28801 May 21691 24462 June 22021 25343 July 10 22293 25008 August 23257 21154 24239 September 21979 21061 22598 October 22345 22826 23674 November 20294 23070 27144 December 19700 22459 26792 January 21542 24826 28224 February 20621 24192 27348 March 22055 27520 25601 TOTAL 171803 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 278817 309234 Source: www.gstcouncil.gov.in From the above table it can be inferred that the revenue has shown 10.9% in the financial year 2019 20 when compared to the previous financial year 2018 19. State/Union territory wise collection The State/Union Territory wise tax collection revenue in the financial years 2018- 19 and 2019 20 and its growth rate in collection is tabulated as below- Table 4 State/Union Territory Tax Revenue State/Union Territory wise for 2018 19 and 2019 20 (in crores) Sl. No. State/Union Territory 2018-19 2019-20 Growth in % 1 Maharashtra 170289 185917 9 2 Karnataka 78763 83408 6 3 Gujarat 73440 78923 7 4 Tamil Nadu 70562 74430 5 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Uttar Pradesh 61337 65281 6 6 Haryana 55223 59560 8 7 Delhi 39845 44161 11 8 West Bengal 39780 43386 9 9 Telangana 36408 39820 9 10 Rajasthan 30722 32821 7 11 Odisha 26952 29677 10 12 Madhya Pradesh 25683 28354 10 13 Andhra Pradesh 25311 27108 7 14 Chhattisgarh 22932 24160 5 15 Jharkhand 23916 22847 -4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 Kerala 16343 19234 18 17 Punjab 13979 15235 9 18 Uttarakhand 15150 14722 -3 19 Bihar 10755 12640 18 20 Assam 8989 10423 16 21 Himachal Pradesh 7593 7960 5 22 Goa 4103 4280 4 23 Jammu Kashmir 3792 4010 6 24 Sikkim 1917 2248 17 25 Chandigarh 1779 1988 12 26 Puduchery 1924 1871 -3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 27 Dadra Nag 1718 1810 5 28 Other territory 2484 1753 -29 29 Meghalaya 1368 1522 11 30 Daman Diu 1105 1155 5 31 Center Jurisdiction 580 1003 73 32 Tripura 556 680 22 33 Arunachal Pradesh 398 581 46 34 Manipur 309 435 41 35 Andaman Nicobar 297 361 21 36 Nagaland 227 317 40 37 Mizoram 213 296 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 39 38 Lakshadweep 20 20 2 TOTAL 876794 944414 8 Source: www.gstcouncil.gov.in From the above table it can be inferred that Maharashtra witnessed the highest collection followed by Karnataka, Gujarat and Tamil Nadu. Except 4 States/Union territories all other States/Union Territories witnessed the growth in the financial year 2019 20 than in the financial year 2018 19. Kerala and Bihar witnessed 18% growth. The small Union territories have witnessed more than 40% growth in collection. Overall growth is 8%. Integrated tax Revenue A comparative analysis of integrated tax revenue accrued to the Central Government for the last three financial years by way of domestic supply and import, are represented in the following table- Table 5 Integrated Tax Revenue from 2017 18 to 2019 - 20 Month 2017- 18 2018 - 19 2019 - 20 Domes Import Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Domes Import Total Domes Import Total April 29302 21246 50548 31444 23289 54733 May 24673 24447 49120 25016 24875 49891 June 25005 24493 49498 25792 21980 47772 July 32 20296 20958 25009 24852 49951 26366 24246 50612 Aug 26901 23068 49968 23363 26512 49875 24140 24818 4895 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 Sep 25000 23929 48930 24762 25308 50070 22972 22097 45069 Oct 25879 22116 47995 26511 26908 53419 25071 21446 46517 Nov 22667 20026 42694 25593 24133 49726 28080 20948 49028 Dec 22048 20717 42765 24301 23635 47936 26804 21295 48099 Jan 23793 21546 45338 27169 24056 51225 29532 23481 53013 Feb 22779 19603 42 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 382 25569 21384 46953 27758 20745 48503 Mar 23993 22333 46326 26897 23521 50418 26452 18056 44508 Total 193092 194264 387356 308244 290495 598739 319427 267276 586703 Source: www.gstcouncil.gov.in From the above table it can be inferred that the integrated tax collected on imports shows a negative growth of 8% but the integrated tax collection on domestic supply has witnessed a growth of 3.6% in the Financial year 2019 - 20 when compared to the financial year 2017 18. Compensation Cess collection The GST compensation cess is collected for the purpose of compensating States if they have any loss of revenue due to the implementation of GST from 01.07.2017 to 31.06.2022. The compensation cess collected ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... financial year wise (domestic as well as import) is given in the below table- Tale - 6 FINANCIAL YEAR WISE COMPENSATION CESS COLLECTION (in crores) Financial Year Domestic Import Total 2017 18 56319 6295 62614 2018 19 87290 10080 97370 2019 20 88306 10443 98749 Source: www.gstcouncil.gov.in . From the above table it can be inferred that the Cess collction has witnessed only 1.4% in the financial year 2019 20 when compared to the financial year 2018 19. The cess collected through domestic supply has witnessed 3.6% growth and the cess collected through import has witnessed 1.2% growth in the financial year 2019 20 than the financial year 2018 19. In the below table the compensation cess collection month wise is shown- Table 7 MONTHWISE COMPENSATION C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ESS COLLECTION (in crores) Month 2017 - 18 2018 - 19 2019 - 20 Domestic Import Total Domestic Import Total Domestic Import Total April 7852 702 8554 8115 1053 9168 May 6485 854 7339 7172 953 8125 June 7349 773 8122 7581 876 8457 July 0 593 593 7568 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 794 8362 7754 797 8551 Aug. 6608 548 7156 6779 849 7628 6432 841 7273 Sep. 7302 722 8024 7224 769 7993 6892 728 7620 Oct. 7291 740 8032 7045 955 8100 6833 774 7607 Nov. 6420 683 7103 7189 842 8031 6858 869 7727 Dec. 7164 758 7922 7051 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 838 7889 7484 847 8331 Jan. 7282 788 8070 7788 902 8690 7813 824 8637 Feb. 7550 645 8195 7566 910 8476 7907 1040 8947 Mar. 6702 818 7520 7395 891 8286 7465 841 8306 Total 56319 6295 62614 87290 10080 97370 88306 10443 98749 Source: www.gstcouncil.gov.in - - Scholarly articles for knowledge sharing autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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