Business

The good news for the economy is that GST collection in December was the highest

The economy is now showing signs of slowing down. After the introduction of GST in December 2020, the amount of GST revenue is the highest and this is the first time that it has exceeded Rs 1.15 lakh crore. GST collection in December stood at Rs 1,15,174 crore. This is the third consecutive month when GST collection has crossed Rs 1 lakh crore. The finance ministry said the central GST contributed Rs 21,365 crore to the total revenue. The state GST stood at Rs 2,27,604 crore. Integrated GST at this time was Rs 57,426 crore and CST was Rs 8,579 crore.

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According to the recent trend of improvement in GST revenue, the collection figure in December has doubled compared to the same month last year. This is a good sign for the economy going through recession. During this period, revenue from imports of goods was 2 per cent higher than the same month last year and revenue from internal transactions (including imports of services) was 8 per cent higher. Until now, the highest level of GST collection in April 2019 was Rs 1,13,866 crore.

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Speed ​​of GST in 2020-21 (in crores of rupees)

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