As per the Indian finance ministry, the GST collections for the month of March stood at an all-time high of Rs 1.23 trillion
Bengaluru: As per the Indian finance ministry, the GST collections for the month of March stood at an all-time high of Rs 1.23 trillion.
The ministry added that in with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year.
"The gross GST revenue collected in the month of March 2021 is at a record of Rs 1,23,902 crore of which CGST is Rs 22,973 crore, SGST is Rs 29,329 crore, IGST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and Cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods)," the ministry said.
"GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post-pandemic," the ministry added.
"The GST revenue witnessed growth rate of (-) 41 per cent, (-) 8 per cent, 8 per cent and 14 per cent in the first, second, third and fourth quarters of this financial year, respectively, as compared to the same period last year, clearly indicating the trend in the recovery of GST revenues as well as the economy as a whole," it said.
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