New Delhi: India Taxes and Services India (GST) Fixed income above Crore Rs 1 Lakh for the second consecutive month in August more than Rs 1.12 Lakh Crore, 30 percent higher than the collection in the period last year.
“Dirty GST income collected in August 2021 is Rs 1,12,020 Crore from where GST Center is Rs 20,522 Crore, State GST is Rs 26,605 Crore, Integrated GST is Rs 56,247 Crore (including RS 26,884 Crore collected on imported goods) and Cess is Rs 8,646 Crore (including RS 646 Crore collected on imported goods), “said the Ministry of Finance in a statement.
However, the collection was lower than Rs 1.16 lakh Crore was collected in July 2021.
While in August 2020, GST Collection was at RS 86,449 Crore.
After remaining above the crore sign RS 1 Lakh for nine consecutive months, the GST collection has dropped below in June because of the second wave of Covid.
However, with easing out of restrictions, the collection has increased for July and August 2021 and remains above the sign of Crore Lakh RS 1.
“This clearly shows that the economy recovers quickly.
Coupled with economic growth, anti-avoidance activities, especially actions against Billers Fake has also contributed to the enhanced GST collection, “added the Ministry of Finance’s statement.
During the period considered, the income from domestic transactions (including service imports) was also 27 percent higher than income from these sources during the same month last year.
The current center estimates this strong trend in the GST collection to continue in the coming months as well.