Rs. 80,808 crores collected under GST in Dec

New Delhi [India], Dec 26 (ANI): The total collection under the Goods and Services Tax (GST) for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017, a notification from the Ministry of Finance said.

From the total amount collected in December, Rs. 13,089 crores has been collected as Central Goods and Services Tax (CGST), Rs. 18,650 crores has been collected as State Goods and Services Tax (SGST), Rs. 41,270 crores has been collected as Integrated Goods and Services Tax (IGST) and Rs. 7,798 crores has been collected as compensation cess.

The notification further stated that Rs. 10,348 crores is being transferred from IGST to CGST account.

Moreover, Rs. 14,488 crores is being transferred from IGST to SGST account by way of settlement of funds due to cross utilization of IGST credit for payment of CGST and SGST respectively.

Therefore, a total amount of Rs. 24,836 crores is being transferred from IGST to CGST/SGST account by way of settlement.

The total collection of CGST and SGST for December, 2017 (upto 25th December) is Rs. 23,437 crores and Rs. 33,138 crores respectively, including transfers by way of settlement.(ANI)

This story has not been edited. It has been published as provided by ANI