Economy
Average Monthly GST Collection At Rs 1.30 Lakh Crore For Q3 Of FY21, Over 1.4 Lakh Crore Collected In January: Govt
GST collections
The average monthly gross Goods and Services Tax (GST) collection for the third quarter of the financial year 2021-22 has been Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarters respectively, the Parliament was told on Monday (7 February).
In a written reply to a question in Lok Sabha, Union Minister of State for Finance Pankaj Chaudhary added that record GST collection of Rs 1,40,986 crore is reported in the month of January 2022 and this collection has been the highest since implementation of the GST.
Giving more details, the Minister said that the gross (GST) collections in the months of October, November and December 2021 stood at 1,30,127 crore, 1,31,526 crore and 1,29,780 crore respectively.
"It may be seen from the above table that there is a minor dip in the GST collection in the month of December 2021 as compared to the months of October and November 2021 but it touched the highest ever collection of Rs. 1,40,986 crore in January 2022," the minister said.
The minister also said that since the government has been making concerted efforts to raise tax revenue collections which among other things includes GST rate rationalisation to improve tax compliance, e-invoice system, mandatory e-filing and e-payment of taxes, penalty for delayed payment etc, it is expected that the GST collection may remain buoyant in the coming months as well.
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