Union Finance Ministry has decided to declare Goods and Service Tax (GST) collections on cash basis from the first of every month.

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A senior government official has clarified the April GST data, which will include the Central Goods & Services Tax (CGST) and State Goods & Services Tax (SGST) numbers for the month of March, will be released on May 1.

This means, government will account for the March 2018 GST collections in the month of April, as March GST is due on April 20. The April GST data will also include the Integrated Goods & Services Tax (IGST) payments for the full month till April 30.

Similarly, the May GST collections will be reported on June 1 and this will reflect the CGST and SGST data of April, as well as the IGST collections till May 31.

Likewise, this cycle will move for all the months up to March and on April 1, the centre will declare the GST collections till February 2019, covering 12 months data.

The centre has unspent surplus of Rs 20,000 crore under the compensation fund, which is used to meet the GST revenue deficit of states. So far, the centre has compensated states to the tune of Rs 41,000 for GST shortfall till the month of February.