GST collections in December crosses over Rs 1.15 lakh crore


GST collections in December crosses over Rs 1.15 lakh crore: December 2020 saw a record high of over Rs 1.15 lakh crore in the GST collection revenue. In fact, the revenues for the month of December 2020 are 12 per cent higher than the GST revenues in the same month in 2019. In November 2020, the GST collection had crossed Rs 1 lakh crore mark.

 

The highest jump in the GST collection was witnessed in Dadra and Nagar Haveli, with a growth of 68 per cent year on year, the collection during the month of December 2019 was Rs 154 crore and in 2020, it stood at Rs 259 crore. Tripura saw the second-highest jump at 25 per cent year on year basis. The Central GST stands at Rs 21,365 crore and the state GST is at Rs 27,804 crore.

 

The integrated GST stood at Rs 57,426 crore (including Rs 27,050 crore collected on import of goods) and cess at Rs 8,579 crore (including Rs 971 crore collected on import of goods).

 

“This is the highest growth in monthly revenues for the last 21 months. This has been due to the 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 total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakhs. The government has settled Rs 23,276 crore to CGST and Rs 17,681 crore to SGST from IGST as regular settlement.

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