Skip to main content

GST Collection At All-Time High Of Over Rs 1.15 Lakh Crore In December Since Its Implementation

 GST collections touched a record high of over Rs 1.15 lakh crore in December, an all-time monthly high since the implementation of the new tax regime, according to Finance Ministry.

"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 systematic changes introduced recently, which have led to improved compliance",the finance ministry said in a statement.

The month of December 2020 is 12 per cent higher than the GST revenues in the same month last year, the government said.

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 is Rs 44,641 crore for CGST and Rs 45,485 crore for the SGST.

The highest jump in the GST collection was witnessed in Dadra and Nagar Haveli, with a growth of 68 per cent year on year, the collection during the month of December 2019 was Rs 154 crore and in 2020, it stood at Rs 259 crore.

Tripura saw the second-highest jump at 25 per cent on year basis.The Central GST stands at Rs 21,365 crore and the State GST is at Rs 27,804 crore.


Comments

Post a Comment

Popular posts from this blog

After KooApp, now ISRO and MapmyIndia join hands to replace Google Maps in India

The ISRO (Indian Space Research Organisation) and MapmyIndia, announced an initiative to partner together to offer a fully indigenous, mapping portal and geospatial services. The development is in line with the Central government's June 2020 move to open up the space sector to private firms. The indigenously-developed mapping portal will serve as a rival to Google Maps, which is used by over a billion people across the world every month. Giving further details, MapmyIndia CEO and Executive Director, Rohan Verma said that both the organisations would come with an India made mapping portal and geospatial services on Friday. He also stated that the collaboration will boost Aatmanirbhar Bharat, which will mean that users in India in future can rely on a country made solution and not a service designed outside India. The company claims that it ensures that the maps reflect the true sovereignty of the country, depicting India’s borders as per Government of India. MapmyIndia’s map...
Post a Comment
Read more

India becomes fastest country in world to complete over 6 million vaccination

 The world’s biggest inoculation drive began in India on January 16 with two indigenously-manufactured Covid-19 vaccines – Covishield and Covaxin. Even with exporting to needy nations and neighbouring regions, India managed to registered more than 1 million vaccinations within the first six days of the mega drive, becoming the fastest country to do so. Nearly 6 million (60,35,660) beneficiaries have received COVID-19 vaccine shots in merely 24 days, the Union Health Ministry said. Out of which 54,12,270 are health care workers and 6,23,390 are frontline workers (started on February 2,2021). #IndiaFightsCorona : 📍 Highlights: ☑️ As on 8th February, 2021 at 06:00 PM ➡️ Total vaccination: 60,35,660 ➡️ HCWs vaccinated: 54,12,270 ➡️ FLWs vaccinated: 6,23,390 (Started on 2nd February, 2021) : @MoHFW_INDIA pic.twitter.com/FLmpV1p1lp — #IndiaFightsCorona (@COVIDNewsByMIB) February 8, 2021 India became the fastest country in the world to reach the 6 million COVID-19 vaccination...
Post a Comment
Read more

GST Collection At All-Time High Since Its Implementation,almost touches Rs.1.20 lakh crore in January 2021

 On the eve of Union Budget 2021, the GST revenue collected for the month of January 2021 has touched nearly Rs 1.20 lakh crore. The tax collection is higher than the December 2020 record, which witnessed an unexpected rise of 11.6 per cent. This is the highest GST revenue the government has collected since the rollout of the Goods and Services Tax regime. "The GST revenues during January 2021 are the highest since introduction of GST and has almost touched the Rs.  1.20 lakh crore mark, exceeding the last month's record collection of Rs. 1.15 lakh crore," the finance ministry said in a statement on Sunday ✅GST Revenue collection for January 2021 almost touches ₹1.20 lakh crore ✅Revenues for month of January 2021 are 8% higher than GST revenues in same month last year ✅GST revenues during January 2021 are the highest since introduction of GST Read more➡️ https://t.co/kKpPlK0i4X pic.twitter.com/TG0hQW9oGp — Ministry of Finance (@FinMinIndia) January 31, 2021 The con...
Post a Comment
Read more