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GST Collection For April Touches All-Time High Of Rs 1.4 Lakh Crore
GST collections (A representative image)
Despite the second wave of Covid-19 pandemic affecting several parts of the country, the gross revenue of Goods and Services Tax (GST) collected in the month of April’ 2021 is at a record high of Rs 1,41,384 crore.
Among this, CGST is Rs 27,837 crore, SGST is Rs 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs 9,445 crore (including Rs 981 crore collected on import of goods).
“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 during the month,” said the Ministry of Finance.
The GST revenues during April 2021 are the highest since the introduction of GST. In line with the trend of recovery in the GST revenues over the past six months, the revenues for the month of April 2021 are 14 per cent higher than the GST revenues in March.
GST revenues have not only successively crossed the Rs one lakh crore mark for the last seven months but have also shown a steady increase. The Finance Ministry said that this is a clear indication of sustained economic recovery.
“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,” the ministry said.
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