Date : 02 Jan 2022
GST Revenue CollectionTags :
Indian Economy and issues relating to planning, mobilization, of resources, growth, development, and employment
Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.
Why in News?
The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore.
- Out of this collection, 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).
More About the News
- The revenues for the month of December 2021 are 13% higher than the GST revenues in the same month last year and 26% higher than the GST revenues in December 2019.
- During the month, revenues from import of goods was 36% higher and the revenues from domestic transaction (including import of services) are 5% higher than the revenues from these sources during the same month last year.
- The GST collection in the month is close to Rs 1.30 lakh crore despite reduction of 17% in the number of e-way bills generated in the month of November, 2021 (6.1 crore) as compared to the month of October, 2021 (7.4 crore) due to improved tax compliance and better tax administration by both Central and State Tax authorities.
- The chart below shows trends in monthly gross GST revenues during the current year.
Source: pib.gov.in, gstcouncil.gov.in