New Delhi, Jan 2 (KNN) The Finance Ministry has said that Good and Services Tax (GST) collection for December showed a growth of 16% from its December 2018 figure as it has collected a gross GST revenue of Rs 1,03,184 crore in December 2019.

In a press release on Wednesday, the ministry asserted that CGST was Rs 19,962 crore, state GST was Rs 26,792 crore, integrated GST (IGST) was Rs 48,099 crore and cess Rs 8,331 crore.

“If we consider IGST collected from imports, the total revenue during December, 2019 has increased by 9% in comparison to the revenue during December, 2018,” the Ministry said.

“During this month, the IGST on import of goods has seen a negative growth of (-) 10%, but is an improvement over (-) 13% last month and (-) 20% in the month of October," it added.

Arunachal Pradesh showed the tremendous rate of growth of gross GST in December at 124%, GST collection in Lakshadweep fell by 78% and in Jharkhand by 3%, the press release said.

In first week of December last year, Finance Minister of a few states met Union Finance Minister Nirmala Sitharaman to discuss Goods and Services (GST) compensation. These states had already raised concerns over delay in payment of GST compensation by the Centre in the last month.

On December 7 last year, Union Finance Minister Nirmala Sitharaman said that the Centre could not pay pending compensation to states under the Goods and Services Tax regime because the collection was not adequate. However, she assured that the government’s compact with the states will be honoured.

On December 16, the Centre released Rs 35,298 crore for states and Union Territories as compensation for the GST framework, just two days before the GST Council meeting.

“There's no gap (in communication) within the council. In the council and in the Rajya Sabha, I have explained in detail how we remain committed to cooperative federalism and to honour the promises given on GST,” she had said.

Published On : 02-01-2020

Source : KNN India