GST collection in January 2021 was 8 percent higher than the same month last year.
new Delhi:
The GST collections in the country have reached a record 1.19 lakh crore rupees in January 2021. The finance ministry gave this information on Sunday. This increase in the collection of indirect taxes before the budget is very encouraging news for the government, which is trying to find every option to increase the treasury after the corona epidemic shocks the economy.
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GST revenue has been around one lakh crore rupees in the last four months. The Finance Ministry has said that the increase in GST indicates that the economy is recovering rapidly after the epidemic of Kovid-19. GST revenues for January 2021 are the highest since the implementation of the Goods and Services Tax system in 2017. It has almost touched the figure of 1.2 lakh crores. The finance ministry said that in December 2020, the GST collection stood at Rs 1.15 lakh crore.
The ministry said in a statement that during the last four months, GST collection has been more than one lakh crore rupees continuously. This clearly shows that after the shock in the Corona period (COVID-19 pandemic), the economy is recovering rapidly and the rapid economic growth rate is increasing.
According to the Finance Ministry, the GST collection for this month has been Rs 1 lakh 19 thousand 847 crore till 6 pm on 31 January 2021. Of this, CGST 21 thousand 923 crore, SGST 29 thousand 104 crore and IGST 60 thousand 288 crore. 27424 crore has been received on import of goods and 8622 crore rupees from cess. The total number of GSTR-3B returns filed has reached 90 lakhs from December to 31 January.