NEW DELHI ;
GST collections remained above the Rs 1-lakh-crore mark for the sixth month in a row in March, rising 27 per cent annually to record Rs 1.23 lakh crore, the Finance Ministry said on Thursday. The Ministry said the steep increasing trend in Goods and Services Tax is a clear indication of rapid economic recovery post pandemic.
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. The gross GST revenue collected in March 2021 stood at Rs 1,23,902 crore. Of this, central GST stood at Rs 22,973 crore, State GST at Rs 29,329 crore, integrated GST at Rs 62,842 crore and Cess at Rs 8,757 crore.