7.41 lakh crore GST collection in nine months

he Goods and Services Tax (GST) collection in the first nine months of its roll out during 2017-18 stood at Rs 7.41 lakh crore with a monthly average was Rs 89,000 crore against the targeted Rs 92,000 crore.

The figures issued by the central government on Friday comprised of Central GST (CGST) and State GST (SGST) from August, 2017 till March, 2018 and integrated GST (IGST) and compensation cess for July-March.

The Finance Ministry informed that during 2017-18, total revenue collected was Rs 7.19 lakh crore. If one adds the cess and IGST collection for July, the same stands at Rs 7.41 lakh crore, the ministry added.

The Centre’s GST revenue target for 2018-19 is Rs 7.43 lakh crore, said an official.

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