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GST revenue: Rs 40,000 cr received from 13 lakh assessees; 22 lakh yet to file returns

The government has collected a gross goods and service tax (GST) amount of Rs 40,000 crore so far with 13 lakh assessees having filed an interim tax return on the GST Network as of Monday evening.

The government has collected a gross goods and service tax (GST) amount of Rs 40,000 crore so far with 13 lakh assessees having filed an interim tax return on the GST Network as of Monday evening.
In addition, 22 lakh assessees have filled in the relevant details on the portal but are yet to file return, senior government officials said. Of the total amount of Rs 40,000 crore, Rs 15,000 crore has come in as integrated-GST, which is levied on interstate movement of goods.
Another Rs 5,000 crore, a revenue department official said, had been paid by assessees by way of cess on demerit goods such as cars and tobacco. The remaining Rs 22,000 crore has come in as central GST and state GST, which would be split equally between the Centre and the states, government officials explained. The Rs 40,000 crore collected is a gross amount and the final amount in the government’s kitty would be smaller since there would refunds for input tax credit, the official added.
Source: http://www.financialexpress.com/economy/gst-revenue-rs-40000-cr-received-from-13-lakh-assessees-22-lakh-yet-to-file-returns/818501/

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