GST receipts hit an all-time high of Rs. 1.15 trillion

The Goods and Services Tax collections for December 2020 came at Rs 1,15,174 crore, in the highest ever monthly collection since the new tax regime was implemented in 2017, the finance ministry said. The highest monthly GST collections before this was Rs 1,13,866 crore in April 2019, according to government data.

The collections, which were 12% higher as compared to the last month, is in line with the recent trend of recovery in GST revenues, the finance ministry said. In November, the revenues came at Rs 1,04,963 crore. GST collections have now come in excess of the Rs 1-lakh crore mark for three consecutive months.

The finance ministry claimed that the uptick in GST collections is a result of economic recovery and compliance measures undertaken by the government.

“This [highest-ever collections] has been due to combined effect of the rapid economic recovery post pandemic and the nation-wide drive against GST evaders and fake bills alongwith many systemic changes introduced recently, which have led to improved compliance,” the ministry said.

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