GST collection in December 2020 at all-time high

The highest GST collection till now was ₹ 1,13,866crore in the month of April 2019.

The gross GST revenue collected in the month of December 2020 rose to ₹1,15,174crore, an all-time monthly high since the implementation of the new tax regime. This is the third month in a row in the current financial year that the GST revenues have been more than ₹ 1 lakh crore. 

The December 2020 revenues are significantly higher than last month’s revenues of ₹ 1,04.963crore.

According to Finance Ministry "The GST revenue during December 2020 have been the highest since the introduction of GST and it is the first time that it has crossed ₹ 1.15 lakh crore. 

The highest GST collection till now was ₹ 1,13,866crore in the month of April 2019. The revenues of April normally tend to be high since they pertain to the returns of March, which marks the end of financial year," 

The finance ministry accredited that the rising GST collection 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 that out of the ₹ 1,15,174crore GST revenue in December, CGST is ₹ 21,365 crore, SGST is ₹ 27,804 crore, IGST is ₹ 57,426 crore (including ₹ 27,050 crore collected on import of goods) and cess is ₹ 8,579 crore (including ₹ 971 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh, the ministry said.

India Scanner News Network

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