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GST Revenue Collection touched new heights of nearly Rs 1.20 lakh crore

The Finance Ministry said that this is in line with the trend of GST revenue collection in the last 5 months. GST collection in January 2021 is 8 percent higher than the year before.

Yogita S.

Yogita S.By Yogita S.

Published on 1 Feb 2021 5:38 AM GMT

GST Revenue Collection touched new heights of nearly Rs 1.20 lakh crore
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New Delhi': Today the country's Finance Minister Nirmala Sitharaman is presenting the budget for the financial year 2021-22. Before that there has been news of relief for the Modi government. A record GST collection of Rs 1.20 lakh crore has been made in January. The special thing is that this figure is the largest ever since the implementation of GST. The finance ministry gave its information on Sunday.

Finance Ministry gave this information

The Finance Ministry said that this is in line with the trend of GST revenue collection in the last 5 months. GST collection in January 2021 is 8 percent higher than the year before. The Finance Ministry said in a statement that the GST revenue collection stood at Rs 1,19,847 crore as of 6 pm on 31st of January 2021.

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It has a CGST of Rs 21,923 crore and SGST of Rs 29,014 crore. At the same time, IGST is Rs 60,288 crore. From December to January 21, 90 lakh GSTR-3B returns have been filed. According to the report, this figure could be higher due to the higher number of GST sales returns filed.

Continuous recovery

Let us tell you that for the past few months, the GST collection figures are continuously showing a sharp recovery. The GST collection in December 2020 was Rs 1,15,174 crore. In comparison to the month of December in 2019, it was around 12%. In November 2020, the total GST collection stood at Rs 1,04,963 crore. Tax experts say that in the last quarter (January-March) of the financial year, tax collection generally picks up.

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Yogita S.

Yogita S.

Media Graduate, News Editor and PR Enthusiast.

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