GST collection at ₹1.29 lakh crore in December, 13% up on same month last year

GST revenue collected in December 2021 was more than ₹1.29 lakh crore, 13 per cent higher than the same month last year, the finance ministry said on Saturday (January 1).

Though the collection was lower than ₹1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over ₹1 lakh crore.

“The gross GST revenue collected in the month of December 2021 was ₹1,29,780 crore, of which CGST was ₹22,578 crore, SGST was ₹28,658 crore, IGST was ₹69,155 crore (including ₹37,527 crore collected on import of goods) and cess was ₹9,389 crore (including ₹614 crore collected on import of goods),” the ministry said in a statement.

The revenues for December 2021 were 13 per cent higher than the GST revenues in the same month last year (₹1.15 lakh crore) and 26 per cent higher than December 2019.

The average monthly gross GST collection for the third quarter (October-December) of the current year was ₹1.30 lakh crore against the average monthly collection of ₹1.10 lakh crore and ₹1.15 lakh crore in the first and second quarter, respectively.

“Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The improvement in revenue has also been due to various rate rationalisation measures undertaken by the Council to correct inverted duty structure,” the ministry said.

It hoped that the positive trend in the revenues will continue in the last quarter as well.