Average GST collection stands at Rs. 89,885 crore per month

The total revenue collected under Goods and Services Tax (GST) for the first eight months upto March this year, since its inception, has been Rs. 7.19 lakh crore with an average monthly collection standing at Rs. 89,885 crore, the finance Ministry said in a statement on Friday.

Of the total revenue collection, Central GST collected was Rs. 1.19 lakh crore, the State GST collected was Rs. 1.72 lakh crore, whereas the Integrated GST collected was Rs. 3.66 lakh crore. The cess collection was Rs. 62,021 crore in the eight month period.

The finance ministry statement also added that the revenue gap of each state is coming down over the last eight months.

It further said there has been an improvement in the compliance level observed over the course of the year. The compliance level as on the due date has progressively increased to an average of 65 per cent from around 55 to 57 per cent observed during the initial months.