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1.15 lakh crore GST was collected in the month of December 2020: Ministry of Finance

1.15 lakh crore GST was collected in the month of December 2020: Ministry of Finance
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The central government on Friday said that over Rs 1.15 lakh crore gross goods and services tax (GST) revenue was collected in the month of December 2020, which is the highest since the introduction of GST from July 1, 2017.

In a statement, the Ministry of Finance also said that the total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh.

“This is the highest growth in monthly revenues for the last 21 months. This has been due to combined effect of the rapid economic recovery post-pandemic and the nation-wide drive against GST evaders and fake bills along with many systemic changes introduced recently, which have led to improved compliance,” the Finance Ministry said in a statement.

The Finance Ministry said that revenues from import of goods in December last year were 27 per cent higher and the revenues from domestic transaction (including import of services) are 8 per cent higher than the revenues from these sources during the same month last year.

In line with the recent trend of recovery in the GST revenues, the mop-up in December crossed Rs 1 lakh crore mark for the third month in a row and was 12 per cent higher than over Rs 1.03 lakh crore collected in December 2019.

During December Central GST mop-up is Rs 21,365 crore, State GST is Rs 27,804 crore, Integrated GST is Rs 57,426 crore (including Rs 27,050 crore collected on import of goods) and Cess is Rs 8,579 crore (including Rs 971 crore collected on import of goods).

The government has settled Rs 23,276 crore to CGST and Rs 17,681 crore to SGST from IGST as regular settlement. The total revenue earned by the Central Government and the State Governments after regular settlement in the month of December is Rs 44,641 crore for CGST and Rs 45,485 crore for the SGST.

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Post source : PTI

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