GST collections at all-time high of over Rs 1.15 lakh crore in December
GST Revenue collections for December 2020 recorded an all-time high since the implementation of Goods and Services Tax in July 2017.
GST Revenue collections for December 2020 recorded an all-time high since the implementation of Goods and Services Tax in July 2017.
The gross GST revenue collected in December is Rs 1,15,174 crore.
“This is the highest growth in monthly revenues in last 21 months. This has been due to combined effect of the rapid economic recovery post-pandemic and the nation-wide drive against GST evaders and fake bills along with many systemic changes introduced recently, which have led to improved compliance,” the finance ministry said in a statement.
CNBC-TV18 newsbreak confirmed. GST Revenue collections for December 2020 recorded an all-time high since implementation of GST. It comes in at Rs 1,15,174 crhttps://t.co/lTvoJTkqjb
— CNBC-TV18 (@CNBCTV18Live) January 1, 2021
During December Central GST mop-up is Rs 21,365 crore, State GST is Rs 27,804 crore, Integrated GST is Rs 57,426 crore (including Rs 27,050 crore collected on import of goods) and Cess is Rs 8,579 crore (including Rs 971 crore collected on import of goods)
The government has settled Rs 23,276 crore to CGST and Rs 17,681 crore to SGST from IGST as regular settlement. The total revenue earned by the Central Government and the State Governments after regular settlement in the month of December 2020 is Rs 44,641 crore for CGST and Rs 45,485 crore for the SGST.
In line with the recent trend of recovery in the GST revenues, the revenues for the month of December 2020 are 12 percent higher than that of in December last year.
(Edited by : Aditi Gautam)
First Published: Jan 1, 2021 2:34 PM IST
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