New Delhi: Tax Goods and Services (GST) Collection of Rs 1.
38 Lakh Crore In January, compared with RS 1.
29 Lakh Crore in the previous month, providing further comfort to the government in front of the budget.
The government seemed satisfied with the overall leap of income, because the collection until 3 pm on Monday was the second highest for whatever month since the new regime came into force in July 2017.
Previous height from RS 1.
41 Lakh Crore was recorded in April (for sales March 2020-21).
It only marks the fourth month of RS 1.
3 lakh crore mop-up, with encouragement that comes from GST on imports, which jumped 26%, while the increase in domestic transactions was 12% tone, the Ministry of Finance said in a statement.
“The income for January 2022 was 55% higher than GST revenue in the same month last year and 25% higher than GST revenue in January 2020,” he said.
The numbers come even though most experts and entrepreneurs argue that Omicron will affect economic activities.
While the third wave began in December, it rose sharply in January and was seen peaking now.
The economic survey has referred to a rapid increase in the tax collection, providing a center with an enhanced headroom for fiscal intervention.
“The GST collection once again surpassed expectations.
Increased sustainable collections both on domestic transactions and import transactions are seen together with increasing recent export income, will provide more fiscal headrooms in the FY23 budget calculation,” said MS Man, partner in Deloitte India.