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GST Collections At All-Time High Of Rs 1.2 Lakh Crore In January; Grow Eight Per Cent Over January Last Year
GST is the new unified tax regime in India. (photo by Arun Sharma/Hindustan Times via Getty Images)
In a positive development for the Indian economy, goods and services (GST) collections have surged to a record high in January, rising to Rs 1.19 lakh crore, reports Economic Times.
The January collections add to the momentum whereby the collections over the past four months have consistently been above Rs one lakh crore mark.
Further, the average year-on-year growth in GST collections during the first four months of the ongoing second half of FY21 has been eight per cent, compared to a fall of 24 per cent during the first half of the year which was battered by stringent nationwide lockdown and several other restrictions.
In total, as of 6 pm yesterday, the exact collections stood at Rs 1,19,847 crore. Of this, the central GST was Rs 21,923 crore, state GST was Rs 29,014 crore and integrated GST was Rs 60,288 crore. The integrated GST includes Rs 27,242 crore collected on imported goods.
Also, the cess collected stands at Rs 8,622 crore of which Rs 833 crore was collected on imports.
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