TaxTMI 
TaxTMI 
GST Revenue collection for December 2020 recorded all time high since implementation of GST
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....ST Revenue collection for December 2020 recorded all time high since implementation of GST <br>GST<br>Dated:- 1-1-2021<br><BR>GST Revenue collection for December 2020 recorded all time high since implementation of GST ₹ 1,15,174 crore gross GST revenue collected in December Revenues for December 2020 are 12% higher than the GST revenues in the same month last year The gross GST revenue co....
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....llected in the month of December 2020 is ₹ 1,15,174 crore of which CGST is ₹ 21,365 crore, SGST is ₹ 27,804 crore, IGST is ₹ 57,426 crore (including ₹ 27,050 crore collected on import of goods) and Cess is ₹ 8,579 crore (including ₹ 971 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 31st Decem....
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....ber 2020 is 87 lakhs. The government has settled ₹ 23,276 crore to CGST and ₹ 17,681 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of December 2020 is ₹ 44,641 crore for CGST and ₹ 45,485 crore for the SGST. In line with the recent trend of recovery in the GST ....
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....revenues, the revenues for the month of December 2020 are 12% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 27% higher and the revenues from domestic transaction (including import of services) are 8% higher that the revenues from these sources during the same month last year. The GST revenues during December 2020 have been the highes....
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....t since the introduction of GST and it is the first time that it has crossed ₹ 1.15 lakh crore. The highest GST collection till now was ₹ 1,13,866 crore in the month of April 2019. The revenues of April normally tend to be high since they pertain to the returns of March, which marks the end of financial year. The December 2020 revenues are significantly higher than last month's revenue....
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....s of ₹ 1,04.963 crore. This is the highest growth in monthly revenues since last 21 months. This 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. Till now, GST revenues have crossed ₹ 1.1 lakh crore three t....
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....imes since introduction of GST. This is the third month in a row in the current financial year after the economy has been showing signs or recovery post pandemic that the GST revenues have been more than ₹ 1 lakh crore. The average growth in GST revenues during the last quarter has been 7.3% as compared to (-) 8.2% during the second quarter and (-) 41.0% during the first quarter of the fina....
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....ncial year. The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of December 2020 as compared to December 2019. State-wise growth of GST Revenues during December 2020[1] State Dec-19 Dec-20 Growth 1 Jammu and Kashmir 409 318 -22% 2 Himachal Pradesh 699 670 -4% 3 P....
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....unjab 1,290 1,353 5% 4 Chandigarh 168 158 -6% 5 Uttarakhand 1,213 1,246 3% 6 Haryana 5,365 5,747 7% 7 Delhi 3,698 3,451 -7% 8 Rajasthan 2,713 3,135 16% 9 Uttar Pradesh 5,489 5,937 8% 10 Bihar 1,016 1,067 5% 11 Sikkim 214 225 5% 12 Arunachal Pradesh 58 46 -22% 13 Nagaland 31 38 23% 14 Manipur 44 41 -8% 15 Mizoram 21 25 21% 16 Tripura ....
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.... 59 74 25% 17 Meghalaya 123 106 -14% 18 Assam 991 984 -1% 19 West Bengal 3,748 4,114 10% 20 Jharkhand 1,943 2,150 11% 21 Odisha 2,383 2,860 20% 22 Chhattisgarh 2,136 2,349 10% 23 Madhya Pradesh 2,434 2,615 7% 24 Gujarat 6,621 7,469 13% 25 Daman and Diu 94 4 -96% 26 Dadra and Nagar Haveli 154 259 68% 27 Maharashtra 16,530 17,699 7% 29 Karna....
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....taka 6,886 7,459 8% 30 Goa 363 342 -6% 31 Lakshadweep 1 1 -32% 32 Kerala 1,651 1,776 8% 33 Tamil Nadu 6,422 6,905 8% 34 Puducherry 165 159 -4% 35 Andaman and Nicobar Islands 30 22 -26% 36 Telangana 3,420 3,543 4% 37 Andhra Pradesh 2,265 2,581 14% 38 Laddakh 0 8 97 Other Territory 118 88 -25% 99 Center Jurisdiction 75 127 68% Grand Total 81....
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....,042 87,153 8% [1] Does not include GST on import of goods<BR> News - Press release - PIB....