- GST Collection April 2021 Updates; GST Collections At Record High Of Rs One Lakh 41 Thousand 384 Crore
The government released the GST data for the month of April today. According to this, CGST i.e. the central government’s share of this was Rs 27,837 crore.
- GST collection of 29 thousand 599 crore rupees due to import of goods
The Goods and Services Tax (GST) has achieved a new record. A total collection of 1 lakh 41 thousand 384 crores has been done in the month of April. This is the first time since the GST has come into force, that is, from July 2017. However, in March, the collection of 1.24 lakh crore rupees was also done for the first time in a month.
Data released today
The government released the GST data for the month of April today. According to this, CGST i.e. the central government’s share of this was Rs 27,837 crore. S GST i.e. the states’ share was Rs 35,621 crore. A collection of Rs 68,481 crore was made under the Integrated IGST. In this, GST collection of Rs 29 thousand 599 crore was done by import of goods. While a collection of Rs 9,445 crore has been made in the form of cess.
14% more collection than in March
The GST collection in April has been 14% higher as compared to Rs 1.24 lakh crore in March. In fact, with the partial lockdown in April, it was anticipated that the GST collection may decline. On Friday, the SBI report said that the GST collection in the month of April could be between 1.15 and 1.20 lakh crore rupees. However this conjecture proved to be incorrect.
Corona’s second wave on the rise
The second wave of corona in the country is currently on the rise in many states. Especially in the states from which GST collection comes more. It has states like Maharashtra, Gujarat, West Bengal, Tamil Nadu etc. But in spite of all these difficulties, it is known from the GST collection that business activities are on pace in the country. A similar increase was seen in income tax returns in the last financial year.
More than 1 lakh crore collections in the seventh month in a row
This is the seventh consecutive month when the GST collection has crossed Rs 1 lakh crore. This is the trend from October 2020 and the highest collection ever was in March. The GST actually fills everyone, but it fills the indirect. Although business people fill the director GST. For example, when you go to buy something, then the GST is also included in the price you pay for that item. If you take any service, then GST also remains in it.
You also pay GST
Either way you will do any transaction, you will have to pay GST. In the same way, if you do business, then you add GST to the bill in front of the customer and along with that the customer gives you money. Then from that which is part of GST, you have to submit it by 20th of next month. There are different tax slabs of GST in the country.