GST revenue hits all-time high of Rs 1.41 lakh crore in April
GST collections in April touched a record high of over Rs 1.41 lakh crore, indicating sustained economic recovery, the Finance Ministry said on Saturday. The revenues for the month of April 2021 are 14 per cent higher than Rs 1.23 lakh crore collected in March. During the month, the revenues from domestic transaction (including import of services) are 21 per cent higher over the last month.
"GST revenues have not only crossed the Rs 1 lakh crore mark 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.
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 Rs 35,621 crore, IGST Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and cess Rs 9,445 crore (including Rs 981 crore collected on import of goods).
"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 added.
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