GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13% higher than the same month last year, the Finance Ministry said on Saturday. Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore.
The total revenue of the union government and the states in December 2021 after settlements is Rs 48,146 crore for CGST (Central Goods and Services Tax) and Rs 49,760 crore for the SGST (State Goods and Services Tax).
“The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore, of which 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),” the Ministry of Finance said in a statement.
“Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The improvement in revenue has also been due to various rate rationalisation measures undertaken by the council to correct inverted duty structure,” said the ministry. It also said the positive trend in the revenues will continue in the last quarter as well.
The revenues for December 2021 are 13% higher than the GST revenues in the same month last year (Rs 1.15 lakh crore) and 26% higher than December 2019.
The average monthly gross GST collection for the third quarter (October-December) of the current 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.
It hoped that the positive trend in the revenues will continue in the last quarter as well.