GST revenue collection at Rs 1.29 lakh crore in December

New Delhi, Jan 1: The central government collected Rs 1,29,780 crore in gross GST revenue in the month of December 2021. Of this amount, 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 government has settled Rs 25,568 crore to CGST and Rs 21,102 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of December 2021 after settlements is Rs 48,146 crore for CGST and Rs 49,760 crore for the SGST," a statement from the government said.

The press release claims that the revenues for the month of December 2021 are 13% higher than the GST revenues in the same month last year and 26% higher than the GST revenues in December 2019. It adds that revenues from import of goods was 36% higher and the revenues from domestic transaction (including import of services) are 5% higher than the revenues from these sources during the same month last year.

"The GST collection in the month is close to Rs 1.30 lakh crore despite the reduction of 17% 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," it added.

The press release further claimed that the average monthly gross GST collection for the third quarter 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 quarters respectively. Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST.

Various rate rationalization measures undertaken by the Council to correct inverted duty structure has helped the government to collect more revenue, the statement said. It is expected that the positive trend in the revenues will continue in the last quarter as well.