Source: financial express
GST collection has shown a sudden rise to an all-time high of about Rs 1.20 lakh crore in January as strict lockdown restrictions are eased and economic activities continue to happen. The revenues beating the last month’s record collection of ₹1.15 lakh crore as notified by the ministry.
The average growth per year in GST revenue over the first four months in the second half of the financial year has been 8% in contrast to (-) 24% during the first half of the year, the ministry added.GST collections for January 2021 touching the Rs 1.2 lakh crore mark have been 8% higher than last year collections of over Rs 1.1 lakh crore. During the month, wherein revenues from import of commodities was 16% higher and the revenues from domestic transactions including import of services, was 6% higher in the same period.