Increased imports, IT raids, fuel Gst collection
Coupled with economic recovery, anti-evasion activities, especially action against fake billers, have been contributing to the enhanced GST. The improvement in revenues has also been due to various rate rationalisation measures undertaken by the GST Council to correct the inverted duty structure. It is expected that the positive trend in revenues will continue in the last quarter as well, informed the Ministry of Finance.
The gross GST revenues collected in the month of December 2021 stood at Rs 1,29,780 crore, of which CGST is Rs 22,578 crore, SGST Rs 28,658 crore, IGST Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess Rs 9,389 crore (including Rs 614 crore collected on import of goods).
The government has settled Rs 25,568 crore to CGST and Rs 21,102 crore to SGST from IGST as regular settlement. The total revenues of Centre and the states in December 2021 after settlements stood at Rs 48,146 crore for and Rs 49,760 crore, respectively.