New Delhi: Goods and Services Tax Revenue Collection of over Rs 1.29 lakh crore in December 2021, 13% higher than the corresponding month of last year Finance Ministry Said on Saturday. Although collections were less than Rs 1.31 lakh crore in November, December is the sixth consecutive month when revenue from goods sold and services rendered exceeded Rs 1 lakh crore.
gross GST Revenue of Rs 1,29,780 crore was collected in the month of December 2021, out of which CGST 22,578 crores, SGST is Rs 28,658 crores, IGST The finance ministry said in a statement, Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and Rs 9,389 crore (including Rs 614 crore collected on import of goods) as cess.
The revenue for December 2021 is 13% higher than the GST revenue in the corresponding month of last year (Rs 1.15 lakh crore) and 26% higher than that of December 2019.
The average monthly gross GST collection for the third quarter (October-December) of the current year stood at Rs 1.30 lakh crore as against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarters respectively.
The ministry said, “Along with the economic reforms, anti-theft activities, especially action against counterfeit billers, are contributing to the increase in GST. Revenue reforms are also taking place through various measures undertaken by the council to correct the inverted duty structure.” This has happened due to rate rationalization measures,” the ministry said.
The positive trend in revenue is expected to continue in the last quarter as well.
gross GST Revenue of Rs 1,29,780 crore was collected in the month of December 2021, out of which CGST 22,578 crores, SGST is Rs 28,658 crores, IGST The finance ministry said in a statement, Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and Rs 9,389 crore (including Rs 614 crore collected on import of goods) as cess.
The revenue for December 2021 is 13% higher than the GST revenue in the corresponding month of last year (Rs 1.15 lakh crore) and 26% higher than that of December 2019.
The average monthly gross GST collection for the third quarter (October-December) of the current year stood at Rs 1.30 lakh crore as against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarters respectively.
The ministry said, “Along with the economic reforms, anti-theft activities, especially action against counterfeit billers, are contributing to the increase in GST. Revenue reforms are also taking place through various measures undertaken by the council to correct the inverted duty structure.” This has happened due to rate rationalization measures,” the ministry said.
The positive trend in revenue is expected to continue in the last quarter as well.
,