Goods and services tax (GST) revenue collected in December last year was over Rs 1.29 lakh crore, or 13% higher than the same month in 2020, the Finance Ministry said on Saturday.
Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore.
MS Mani, Partner, Deloitte India, said: ”The GST collections reflect the continuing improvement in various macro economic paramaters and appear to have now established a consistent trend over the past few months. However it is would be interesting to evaluate the statewise collections as there seems to some disparities with some states reporting significant increases and some reflecting lower collections compared to the previous year.”
The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore, of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods),” the Finance Ministry said in a statement.
“The GST collections are high despite a reduction in the e-way bill generation during the same period possibly a higher collection from the services sector accompanied by a continuing focus on implementation of technology based anti evasion measures,” Mani said.
The revenues for December 2021 are 13 per cent higher than the GST revenues in the same month last year (Rs 1.15 lakh crore) and 26 per cent higher than December 2019.
The average monthly gross GST collection for the third quarter (October-December) of the current year has been Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarter, respectively.
“Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The improvement in revenue has also been due to various rate rationalisation measures undertaken by the
Council to correct inverted duty structure,” the ministry said.
It hoped that the positive trend in the revenues will continue in the last quarter as well.
