Rs 1.2L cr: All-time high GST collection in Jan

New Delhi, January 31

GST collection surged to an all-time high of about Rs 1.20 lakh crore in January as economic activities picked up after the withdrawal of stringent lockdown restrictions.

Mop-up from the goods and services tax (GST), which is levied when a consumable item is sold or a service such as travel booking rendered, in January was 8 per cent higher than such receipts in the same month of 2020.

In a statement, the Finance Ministry said the January collections were the highest ever since the implementation of the nationwide tax in July 2017.

The previous best was in December 2020 when Rs 1,15,174 crore was collected.

This is the fourth straight month of over Rs 1 lakh crore tax collection, a sign of strong recovery.

The ministry said the total number of GSTR-3B returns filed in December up to January 1, 2021, is Rs 90 lakh crore.

“The GST revenue during January 2021 is the highest since introduction of GST and has almost touched the Rs 1.2 lakh crore mark, exceeding the last month’s record collection of Rs 1.15 lakh crore.

GST revenue above Rs 1 lakh crore for a stretch of last four months and a steep increasing trend over this period is clear indicators of rapid economic recovery post pandemic, the ministry said. — PTI