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GST collection hits all-time high of over Rs 1.41 lakh crore in April

J&K registers 2.94 pc growth in GST collections in FY21

The gross Goods and Services Tax (GST) revenue collected in the month of April is at a record high of one lakh 41 thousand 384 crore rupees. Of which CGST is 27 thousand 837 crore, SGST is 35 thousand 621 crore, IGST is 68 thousand 481 crore and Cess is nine thousand 445 crore rupees.

Finance Ministry said, the revenues for the month of April this year are 14 per cent higher than the GST revenues in the month of March, 2021. It said, despite the second wave of COVID-19 pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner.

The GST revenues during April 2021 are the highest since the introduction of GST. The Ministry said, GST revenues have not only crossed the one lakh crore rupees mark successively for the last seven months but have also shown a steady increase. These are clear indicators of sustained economic recovery during this period.

Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue.

 

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