GST collection at Rs 1.29 Trn in December 2021: FinMin

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It has been reported that The GST revenue collected in December 2021 was over Rs 1.29 trillion, 13 percent higher than the same month last year, the Finance Ministry said on Saturday.

Though the collection was lower than Rs 1.31 trillion 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 trillion, the report said.

The gross GST revenue collected in the month of December 2021 is Rs 1.29 trillion, 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 revenues for December 2021 are 13 percent higher than the GST revenues in the same month last year (Rs 1.15 trillion) and 26 percent 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 trillion and Rs 1.15 trillion in the first and second quarter, the report said.

“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 said said.

It hoped that the positive trend in the revenues will continue in the last quarter as well. (Business Standard)