Home Business GST mop-up hits report Rs 1.23 lakh crore in March

GST mop-up hits report Rs 1.23 lakh crore in March

New Delhi: In keeping with the pattern of fixed restoration in GST revenues over the previous 5 months, the gross items and providers tax (GST) income collected in March 2021 stood at a report excessive of over Rs 1.23 lakh crore.

The entire revenues earned for the month are 27 per cent greater than the GST
collected in the identical month final yr, based on finance ministry information
launched on Thursday.

 

“The gross GST revenue collected in the month of March 2021 is at a record of Rs 1,23,902 crore, of which CGST is Rs 22,973 crore, SGST is Rs 29,329 crore, IGST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and Cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods),” the ministry stated.

The GST collections for March this yr is the six consecutive month of income crossing Rs 1-lakh crore mark. The finance ministry stated {that a} steep
growing pattern over this era is a transparent indicator of a speedy financial restoration post-pandemic.

 

“The revenues from import of products was at 70 per cent greater and the
revenues from home transaction (together with import of providers) are 17
per cent greater than the revenues from these sources throughout the identical
month final yr. The GST income witnessed development charge of (-) 41 per cent, (-) 8 per cent, 8 per cent and 14 per cent within the first, second, third and fourth quarters of this monetary yr, respectively, as in comparison with the identical interval final yr,” it stated. The Centre has settled Rs 21,879 crore to CGST and Rs 17,230 crore to SGST.

 

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