Revenue collections from the Goods and Services Tax in the second month of its roll out slowed to ₹90,669 crore, indicating that the new indirect levy will take some more time to stabilise.
August mop-up was marginally lower than the ₹94,063-crore collected in July. In August, the total Central GST is estimated at ₹14,402 crore as against ₹14,894 crore collected in July.
State GST receipts in August stood at ₹21,067 crore versus ₹22,722 crore collected in July.
Meanwhile, Integrated GST (IGST) payments amounted to ₹47,377 crore of which IGST from imports in August is ₹23,180 crore. IGST revenue in July was ₹47,469 crore.
The collection from compensation cess in August was ₹7,823 crore as against ₹7,198 crore.
But, with tax filings still continuing for both August and July, the Finance Ministry is confident that the mop-up from GST will rise further.
“The figures do not include the GST to be paid by 10.24 lakh assessees who have opted for the composition scheme,” said the Finance Ministry in a statement on Tuesday, adding that there are also many assessees who have not filed their return either for July or August, 2017.
In fact, the last date for payment of GST and filing of GSTR 3B for August was September 20.
But, against the 68.20 lakh tax payers who were required to file monthly returns for August, just 37.63 lakh taxpayers have filed the GSTR 3B returns.
The real clarity on trends in GST receipts will come later this year when the full returns are filed and the exact input tax credit is calculated.
After another extension from the government, GSTR 1 for July has to be filed by October 10 and GST 3 by November 10.
The timeline for filing the returns for August is expected to be after that.