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Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

IANS | January 01, 2022 05:23 PM

NEW DELHI: India's GST collection rose 13 per cent in December 2021 on a year-on-year basis to Rs 1, 29, 780 crore.

However, December's collections declined on a sequential basis from Rs 1, 31, 526 crore reported for November.

"The revenues for the month of December 2021 are 13 per cent higher than the GST revenues in the same month last year and 26 per cent higher than the GST revenues in December 2019, " the Ministry of Finance said in a statement.

"During the month, revenues from import of goods was 36 per cent higher and the revenues from domestic transaction (including import of services) are 5 per cent higher than the revenues from these sources during the same month last year."

Accordingly, the overall collection includes CGST of Rs 22, 578 crore, SGST of Rs 28, 658 crore, IGST of Rs 69, 155 crore and cess of Rs 9, 389 crore.

Besides, the Centre has settled Rs 25, 568 crore to CGST and Rs 21, 102 crore to SGST from IGST as regular settlement.

Consequently, the total revenue of Centre and the States last month after settlements is Rs 48, 146 crore for CGST and Rs 49, 760 crore for the SGST.

"The GST collection in the month is close to Rs 1.30 lakh crore despite reduction of 17 per cent in the number of e-way bills generated in the month of November, 2021 (Rs 6.1 crore) as compared to the month of October, 2021 (Rs 7.4 crore) due to improved tax compliance and better tax administration by both Central and State Tax authorities."

"The average monthly gross GST collection for the third quarter 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 quarters respectively."

In addition, the ministry cited that 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."

"It is expected that the positive trend in the revenues will continue in the last quarter as well."

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