GST collection for April sets new record; Rs 1,41,384 cr gross GST revenue collected

Insight Online News

New Delhi, May 1 : The gross GST revenue collected in the month of April is at a record high of Rs 1,41,384 crore, the Ministry of Finance said here on Saturday.

‘The gross GST revenue collected in the month of April’ 2021 is at a record high of Rs 1,41,384 crore of which CGST is Rs 27,837 crore, SGST is Rs 35,621 crore, IGST is Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and Cess is Rs 9,445 crore (including Rs 981 crore collected on import of goods),’ the Ministry said.

‘Despite the second wave of COVID-19 pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month,’ the Ministry said.

The GST revenues during April 2021 are the highest since the introduction of GST even surpassing collections in the last month (March’2021). In line with the trend of recovery in the GST revenues over past six months, the revenues for the month of April 2021 are 14 per cent higher than the GST revenues in the last month of March 2021. During the month, the revenues from domestic transaction (including import of services) are 21 per cent higher than the revenues from these sources during the last month.

‘GST revenues have not only crossed the Rs 1 lakh crore mark during successively for the last seven months but have also shown a steady increase. These are clear indicators of sustained economic recovery during this period. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue,’ the Ministry said.

UNIINDIA

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