GST collections for January touched an all-time substantial of about Rs 1.20 lakh crore, the Finance Ministry stated on Sunday. The ministry explained in line with the pattern of recovery in the GST revenues above previous 5 months, the revenues for the thirty day period of January 2021 are 8 per cent greater than that in the similar month final yr.
“The gross GST income gathered in the month of January 2021 until 6PM on 31.01.2021 is Rs1,19,847 crore, of which CGST is Rs21,923 crore, SGST is Rs29,014 crore, IGST is Rs60,288 crore(such as Rs 27,424 crore collected on import of merchandise) and Cess is Rs8,622 crore(which include Rs 883 crore collected on import of merchandise),” Finance Ministry mentioned in a statement. The number could be upped additional as much more amount of GST revenue returns get filed.
GST revenues had topped Rs 1 lakh crore in 9 out of 12 months of 2019-20 fiscal. Having said that, in the current fiscal, the revenues have taken a hit because of to the COVID-19 pandemic. Earnings in April was Rs 32,172 crore, adopted by Rs 62,151 crore in May well, Rs 90,917 crore in June, Rs 87,422 crore in July, and Rs 86,449 crore in August. Collections in September were 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.