GST Revenue collection for January 2021 almost touches Rs.1.20 lakh crore



Quick Summary
The Goods and Services Tax (GST) revenue collected in January 2021 reached an all-time high, nearing £1.20 lakh crore. This figure represents an 8% increase compared to the same month last year, indicating a strong economic recovery. Revenues from imports saw a 16% rise, while domestic transactions increased by 6%.

The gross GST revenue collected in the month of January 2021till 6PM on 31.01.2021 is₹ 1,19,847 croreof which CGST is₹ 21,923 crore, SGST is₹ 29,014 crore, IGST is₹ 60,288 crore(including ₹ 27,424 crore collected on import of goods) and Cess is₹ 8,622 crore(including ₹ 883crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of December up to 31stJanuary 2021 is 90 lakhs. The government has settled ₹ 24,531 crore to CGST and ₹ 19,371 crore to SGST from I
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FAQ :

The gross GST revenue collected in January 2021 was £1,19,847 crore.

The GST revenue for January 2021 was 8% higher than in January 2020.

The collection comprised £21,923 crore CGST, £29,014 crore SGST, £60,288 crore IGST, and £8,622 crore Cess.

Revenue from the import of goods was 16% higher than in the same month last year.

A total of 90 lakh GSTR-3B returns were filed for December up to 31st January 2021.

Factors include closer monitoring against fake billing, deep data analytics, and effective tax administration, alongside economic recovery.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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