* Rs. 1,41,384 crore gross GST revenue collected
The gross GST revenue collected in the month of April’ 2021 is at a record high of Rs. 1,41,384 crore of which CGST is Rs. 27,837 crore, SGST is Rs. 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs. 9,445 crore
(including Rs. 981 crore collected on import of goods). Despite the
second wave of COVID-19 pandemic affecting several parts of the country,
Indian businesses have once again shown remarkable resilience by not
only complying with the return filing requirements but also paying their
GST dues in a timely manner during the month.
The
GST revenues during April 2021 are the highest since the introduction
of GST even surpassing collections in the last month (March’2021). In
line with the trend of recovery in the GST revenues over past six
months, the revenues for the month of April 2021 are 14% higher
than the GST revenues in the last month of March’2021. During the
month, the revenues from domestic transaction (including import of
services) are 21% higher than the revenues from these sources during the last month.
GST
revenues have not only crossed the Rs. 1 lakh crore mark during
successively for the last seven months but have also shown a steady
increase. These are clear indicators of sustained economic recovery
during this period. Closer monitoring against fake-billing, deep data
analytics using data from multiple sources including GST, Income-tax and
Customs IT systems and effective tax administration have also
contributed to the steady increase in tax revenue. Quarterly return and
monthly payment scheme has been successfully implemented bringing relief
to the small taxpayers as they now file only one return every three
months. Providing IT support to taxpayers in the form of pre-filled GSTR
2A and 3B returns and ramped up System capacity have also eased the
return filing process.
During
this month the government has settled Rs. 29,185 crore to CGST and Rs.
22,756 crore to SGST from IGST as regular settlement. The total revenue
of Centre and the States after regular and ad-hoc settlements in the
month of April’ 2021 is Rs. 57,022 crore for CGST and Rs. 58,377 crore
for the SGST.
The chart below shows trends in monthly gross GST revenues during the October’20 to Mar’20 and April’2021.
