The government data revealed that the goods and services tax (GST) collections for the month of January dropped to Rs 97,247 crores from Rs 1.02 lakh crores in December. However, the GST collection in January posted a growth of 13.1 per cent year-on-year as the GST collection in January 2018 stood at Rs. 85,962 crores.
The government also informed that the total number of GSTR-3B returns filed for the month of January by February 28 marginally increased from 73.3 lakhs returns filed for December to 73.4 lakhs.
The report released also said that the Central GST accounted for Rs 17,626 crores whereas State GST accounted for Rs 24,192 crores in the total tax collection. Also, Integrated GST collection stood at Rs 46,953 crores and Compensation Cess stood at Rs 8,476 crores.
In December, the GST Council decided to cut rates of about 23 items like 32-inch television sets, power banks and lithium-ion batteries among others which resulted in the reduction in the projection of tax collection for the full financial year.
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