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GST revenues hit all-time high of Rs 1.20 lakh crore in January 2021, says finance ministry

gst-revenues-hit-all-time-high-of-rs-1.20-lakh-crore-in-january-2021,-says-finance-ministry

Unique Delhi: GST collections for January touched an all-time high of about Rs 1.20 lakh crore, the finance ministry acknowledged on Sunday.

The ministry acknowledged based fully mostly on the trend of recovery in the GST revenues over past five months, the revenues for the month of January 2021 are eight p.c elevated than that in the identical month closing year.

“The imperfect GST earnings aloof in the month of January 2021 till 6PM on 31.01.2021 is Rs 1,19,847 crore, of which CGST is Rs 21,923 crore, SGST is Rs 29,014 crore, IGST is Rs 60,288 crore (along with Rs 27,424 crore aloof on import of products) and Cess is Rs 8,622 crore (along with Rs 883 crore aloof on import of products),” finance ministry acknowledged in an announcement.

The numbers might perchance extra upward push as more GST sales returns are filed.

GST revenues had topped Rs 1 lakh crore in 9 out of 12 months of 2019-20 fiscal.

On the opposite hand, in the novel fiscal, the revenues maintain taken a success attributable to the COVID-19 pandemic.

Earnings in April became once Rs 32,172 crore, followed by Rs 62,151 crore in Can even unbiased, Rs 90,917 crore in June, Rs 87,422 crore in July, and Rs 86,449 crore in August. Collections in September maintain been Rs 95,480 crore, Rs 1,05,155 crore in October, Rs 1,04,963 crore in November and Rs 1,15,174 crore in December.

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