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April 30, 2020

GST Collections for the month of March, recorded in April slip to Rs 30kCr

by facelesscompliance in Compliance Law, GST

GST Collections for the month of March, recorded in April slip to Rs 30k cr

GST Collections for the month of March, recorded in April slip to Rs 30,000cr as of April 29 as per sourced based information.

GST Collections in March 2019 were Rs 1,13,865 cr

The GST return filing date for March is extended to 5 May 2020 due to Covid-19 so revenue are expected to increase for month as due date are extended

The expected fall can be in range of 30% to 50% which can only be confirmed after 5 May when compared to March 2019

GST collections likely to be worse in May month as in April the entire country was in lockdown. The collection for April , May month can be down by 70% when compared to corresponding previous year April figures.

The estimated more than 70% fall in e-way bills generated in April is set to have a negative effect on the GST revenue to be collected in May which can be fall by more than 60 to 70% when compared to last year figure

Following are revised due dates and Interest Liability