GST collections rose to ₹96,483 crore in July, from ₹95,610 crore in the previous month, on improved compliance post implementation of the e-way bill. As many as 66 lakh businesses filed returns last month, making it the highest number of monthly GSTR-3B filed since the rollout of Goods and Services Tax (GST) in July last year.
The Electronic-way or e-way bill system is touted as an anti-evasion measure. As per the GST provisions, transporters or businesses have to generate an e-way bill for moving goods worth ₹50,000 crore or more both within and outside the state. Experts, however, expressed apprehensions that GST collections in the coming months may decline as the impact of tax rate cut on 88 products would be felt in the returns filed in August.
Of the collections for July, Central GST accounted for ₹15,877 crore, State GST (₹22,293 crore), Integrated GST (₹ 49,951 crore) and cess is ₹8,362 crore (including ₹794 crore collected on imports). Also, ₹3,899 crore has been released to States as GST compensation for April-May, 2018. The July revenue collection figures do not reflect the impact of the recent tax rate cuts on 88 items. Tax rates on consumer durables have been cut up to ₹1,000
