Increased imports, IT raids, fuel Gst collection
NEW DELHI: The gross GST revenues collected in December 2021 stood at Rs 1,29,780 crore, 13 per cent higher than the GST revenues collected in the same month of 2020, and 26 per cent higher than the GST revenues in December 2019.
In December 2021, revenues from imports were 36 per cent higher, and the revenues from domestic transactions (including import of services) were 5 per cent higher than the revenues from these sources collected during the same month of 2020.
The average monthly gross GST collection for the third quarter of the current financial 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 quarter, respectively.
The GST collection for December 2021 was 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 (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.