GST Collections Clock Rs 1.38 Lakh Crore In January

GST collections for January 2023 have risen

New Delhi: Goods and Services Tax (GST) collections crossed Rs 1.38 lakh crore in January, a progress of 15 per cent over the year-ago interval.Total variety of GSTR-3B returns filed as much as January 30, 2023 is 1.05 crore that features 36 lakh quarterly returns, the finance ministry stated.January is the fourth straight month when GST assortment has crossed Rs 1.30 lakh crore."The gross GST revenue collected in the month of January 2023 till 3 PM on 31.01.2023 is Rs 1,38,394 crore of which CGST is Rs 24,674 crore, SGST is Rs 32,016 crore, IGST is Rs 72,030 crore (including Rs 35,181 crore collected on import of goods) and cess is Rs 9,674 crore (including Rs 517 crore collected on import of goods)," the ministry stated.The highest month-to-month GST assortment has been Rs 1,39,708 crore within the month of April 2021. The revenues for the month of January 2023 are 15 per cent larger than the GST revenues in the identical month final 12 months and 25 per cent larger than the GST revenues in January 2020."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 stated.It is predicted that the optimistic development within the revenues will proceed within the coming months as properly, it added.

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