Collecting GST revenue at Rs 1.29 lakh crore in December

Goods and Services Tax (GST) revenue collected in December of last year was over Rs 1.29 lakh crore, up 13% from the same month in 2020, the Ministry of Foreign Affairs said on Saturday. Finances.

December is the sixth continuous month when revenue collection from goods sold and services rendered was over Rs 1 lakh crore, but collections were below the Rs 1.31 lakh crore wiped in November.

Gross income received in the month of December is Rs 1,29,780 crore, of which Rs 22,578 crore is CGST and Rs 28,658 crore is SGST.

In addition, the IGST is Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and the cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods) .

“Combined with the economic recovery, anti-avoidance activities, especially actions against bogus billers, have contributed to the increase in the GST. The improvement in revenues is also due to various rate rationalization measures taken by the Council to correct the reverse tariff structure, ”the ministry said.

Income for the same month last year was Rs 1.15 lakh crore and was 26% higher than in December 2019.

The average monthly gross GST collection for the third quarter (October-December) of the current year was Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second trimester, respectively.

The ministry hopes that the positive trend in revenues will also continue in the last quarter.

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