Gross goods and services tax (GST) revenue collected in April 2021 stood at a record ₹1.41 lakh crore, the Ministry of Finance said on Saturday (May 1). Of the gross GST revenue of Rs 1,41,384 crore, central GST stood at ₹27,837 crore, while state GST was ₹35,621 crore. According to the ministry, the figure for April 2021 was the highest ever since the introduction of the GST, surpassing the collections made in March 2021.
Additionally, the integrated IGST stood at ₹68,481 crore (including ₹29,599 crore collected on the import of goods) and cess was ₹9,445 crore (including ₹981 crore collected on import of goods). The GST revenues in April 2021 were 14 per cent higher than in March 2021.
In April, revenues from domestic transactions, which include import of services, were 21 per cent higher than revenues from the same sources in March 2021. The ministry added that GST revenues have witnessed a steady increase and crossed the ₹1 lakh crore mark consecutively for the past seven months. The main factors behind the increase in tax revenues were: Deep data analytics through data from multiple sources using GST, income tax, customs IT systems; closer monitoring against fake billing; effective tax administration.
In April 2021, the government settled an amount of ₹29,185 crore to the CGST and ₹22,756 crore to SGST from IGST as regular settlement. Overall, the total revenue of the central government and the states after regular and ad-hoc settlements stood at ₹57,022 crore for CGST and ₹58,377 crore for SGST in April 2021.