January GST Revenue At Record High Of ₹ 1.2 Lakh Crore Ahead Of Budget

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Goods and services tax or GST revenue collected in January stood at ₹ 1.19 lakh crore, the finance ministry said on Sunday, in a record figure a day before the government unveils the country’s annual budget.

“The GST revenues during January 2021 are the highest since introduction of GST and has almost touched the ₹ 1.2 lakh crore mark, exceeding the last month’s record collection of ₹ 1.15 lakh crore,” the finance ministry said in a statement.

Monthly GST revenues have been above ₹ 1 lakh crore for the last four months and a steep increasing trend over this period are clear indicators of rapid economic recovery following the COVID-19 pandemic, it said.

“The gross GST revenue collected in the month of January 2021 till 6 PM on 31.01.2021 is ₹ 1,19,847 crore of which CGST is ₹ 21,923 crore, SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore (including ₹ 27,424 crore collected on import of goods) and cess is ₹ 8,622 crore (including ₹ 883 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of December up to 31st January 2021 is ₹ 90 lakh,” the finance ministry said.

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