Saturday, May 15, 2021
Home Economy and Finance India witnesses a record high collection of GST in December: Finance Ministry

India witnesses a record high collection of GST in December: Finance Ministry

In a statement, the Finance Ministry stated, "In line with the recent trend of recovery in the GST revenues, the revenues for the month of December 2020 are 12 per cent higher than the GST revenues in the same month last year".

In a major development, India witnessed a record high collection of Goods and Services Tax (GST) for the month of December 2020.

As per reports, GST revenue collected last month stood at an all-time high of ₹1,15,174 crores. At the same time, the figure is 12% higher than the tax collected in December 2019. Finance Ministry informed that this has been the highest gross revenue collected since the Goods and Services Tax came into force in July 2017. It is important to mention that GST revenues have clocked more than ₹1 lac consecutively from the last three months.

While the Central GST (also called CGST) stood at ₹21,365 crores, the State GST (also called CGST) collected in December stood at ₹27,804 crores. At the same time, a compensation cess of ₹8,579 crores was generated and an integrated GST of ₹57,426 crores (₹27,050 crores collected on imports) was received. Prior to this, GST revenue collection was highest in April 2019 when it had clocked nearly ₹1.14 crores.

As per reports, Cess worth ₹ 8,579 crores have been collected, with ₹971 crores from imports alone.

In a statement, the Finance Ministry stated, “In line with the recent trend of recovery in the GST revenues, the revenues for the month of December 2020 are 12 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 27 percent higher and the revenues from the domestic transaction were 8 per cent higher than the revenues from these sources during the same month last year.”

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Journalists join hands with Congress trolls to spread propaganda against BJP over Delhi High Court ordered probe by police

Journalists blame BJP after Youth Congress president Srinivas B V questioned by Delhi Police on the orders of Delhi High Court

Read how RSS volunteers turned a defunct, British-era hospital, lying unused for over 2 decades, into a 200-bed COVID-19 facility

Volunteers of the Sangh Parivar, BJP and other organisations cleaned up the defunct KGF hospital in Karnataka to handle COVID-19 crisis

Massive Eid gatherings show the futility of lockdown during the second wave of the pandemic in India, it is time to lift them now

The Muslim community across the world is celebrating Eid ul-Fitr today. With it, the holy month of Ramadan comes to an end.

‘Delhi’s govt was just complaining, not trying to handle logistics of oxygen supply’: Director of INOX

Jain said that the central government's job is to inform these manufacturers to produce a certain amount of oxygen, which they did and made a chart for each state with specific volume allocation.

Dr.Reddy’s commences rollout of Russian-made Sputnik V vaccines, to be priced at Rs 995.40 per dose

Deepak Sapra, the global head of Custom Pharma Services at Dr Reddy's Lab became the first person to receive the Sputnik V shot at Hyderabad today.

Kejriwal govt sets aside Rs 50 crores for free vaccination of Delhi residents, while spending far more on PR: Details

While AAP government in Delhi spent Rs 150 crores on PR from Jan to March, it has only allocated Rs 50 crores for the free vaccination of Delhi's 2 crore population.

Recently Popular

Narcissism at its worse: After doubts were raised on the help being provided by Sonu Sood, actor gets called out for sharing cringe self-laudatory...

After making questionable claims on helping Covid-19 victims, Sonu Sood now shares cartoons that shows him as a God

Charlie Hebdo cartoon mocking Hindu deities for Covid-19 crisis turns out to be fake? Here’s what we know

Some social media users pointed out the hypocrisy of these 'left-liberals', who were just a few months back attacking the same French magazine for publishing cartoons that were allegedly hurtful for Muslims.

Israeli actress Gal Gadot, who once hailed ‘Shaheen Bagh dadi’, wishes for safety for Israel, gets hate from Islamists and ‘liberals’ in return

Gal Gadot's prayer for peace in her home country Israel irks up 'liberals' who even accused her of being a genocide enabler.

While Delhi govt was alleging inadequate oxygen supply, data show it was returning oxygen to suppliers, asked them to store the excess

Due to lack of storage plants and not enough demand, Delhi govt had returned oxygen and asked the suppliers to store them

Israel spy agency Mossad’s parody account pokes fun at Bollywood entertainer Swara Bhasker over her ‘#FreePalestine’ campaign

Swara Bhasker had posted a tweet calling Israel apartheid and terrorist state following the clashes at the Al Aqsa Mosque in Jerusalem
- Advertisement -

 

Connect with us

254,977FansLike
543,677FollowersFollow
24,300SubscribersSubscribe