GST collection at record level in March, Finance Ministry said- ‘Signs of economic recovery after Corona epidemic’

The Finance Ministry said on Thursday that GST collections rose to a record high of Rs 1.23 lakh crore in March, a 27 per cent increase over the same period last year. The ministry said, “GST revenue has been more than one lakh crore rupees during the last six months, and the rapid growth trends in this period indicate clear signs of economic recovery after the epidemic.”

The ministry further said that a deep surveillance against fake-billing has been carried out using data from multilateral sources including GST, Income Tax and Customs IT system, which contributed to revenue collection.

Gross GST revenue stood at Rs 1,23,902 crore in March 2021, including Rs 22,973 crore for central GST, Rs 29,329 crore for state GST and Rs 62,842 crore for integrated GST (including Rs 31,097 crore for import of goods), and 8,757 of cess. Crores (including Rs. 935 crores deposited on the import of goods).

The ministry said in a statement, “GST revenue during March 2021 is the highest since the introduction of GST. In line with the trend of GST revenue collection in the last five months, the revenue collection in March 2021 is 27 percent more than the same period of last year.

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