The GST collections remained above the Rs 1-lakh-crore mark for the seventh month in a row in April, the finance ministry said on Saturday
GST revenues during April 2021 are the highest since the introduction of GST, even surpassing collections in the last month
The gross GST revenue collected in the month of April 2021 set a new record of Rs. 1,41,384 crore. The GST collections remained above the Rs 1-lakh-crore mark for the seventh month in a row in April, the finance ministry said on Saturday, May 1.
Of the Rs. 1.41 lakh crore collection, CGST is Rs. 27,837 crore, SGST is Rs. 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs. 9,445 crore (including Rs. 981 crore collected on import of goods).
“Despite the second wave of COVID-19 pandemic effecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month,” the ministry said in a statement.
GST revenues during April 2021 are the highest since the introduction of GST, even surpassing collections in the last month (March2021).
In line with the trend of recovery in the GST revenues over past six months, the revenues for the month of April 2021 are 14% higher than the GST revenues in the last month of March’2021.
During the month, the revenues from domestic transactions (including import of services) are 21% higher than the revenues from these sources during the last month, the ministry noted.
GST revenues have not only crossed the Rs. 1 lakh crore mark successively over the last seven months but have also shown a steady increase, it added.
“These are clear indicators of sustained economic recovery during this period. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue,” the ministry stated.
Quarterly return and monthly payment scheme have been successfully implemented, bringing relief to small taxpayers as they now file only one return every three months.
Providing IT support to taxpayers in the form of pre-filled GSTR 2A and 3B returns and ramping up system capacity have also eased the return filing process, it said.
During the month of April, the government settled Rs. 29,185 crore to CGST and Rs. 22,756 crore to SGST from IGST as regular settlement.
The total revenue for the Centre and the States after regular and ad-hoc settlements in the month of April 2021 is Rs. 57,022 crore for CGST and Rs. 58,377 crore for the SGST, the ministry stated.