The revenue from Goods and Service Tax (GST) has touched an all-time high in April. The GST revenue has crossed Rs.1.41 lakh crore. This s the highest ever since the introduction of the GST system. This was revealed by the Union Finance Ministry.
The revenues for the month of April 2021 are 14% higher than collected in March. In March this year the GST collections were Rs.1.23 lakh crore.
The gross GST revenue collected in the month of April 2021 is at a record high of Rs.1,41,384 crore, of which CGST is Rs.27,837 crore, SGST Rs.35,621 crore, IGST Rs.68,481 crore (including Rs.29,599 crore collected on import of goods) and cess Rs.9,445 crore (including Rs.981 crore collected on import of goods).
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“GST revenues have not only crossed the Rs.1 lakh crore mark successively for the last seven months but have also shown a steady increase. These are clear indicators of sustained economic recovery during this period. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income-tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue,” the ministry said.
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