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Why are GST collections high?
September’s revenues were 23\% higher than a year ago and 27.3\% more than collections in the pre-pandemic month of September 2019. “Coupled with economic growth, anti-evasion activities, especially action against fake billers have also been contributing to the enhanced GST collections,” the Finance Ministry said.
Is GST collection increasing?
Finance Minister Nirmala Sitharaman said in a tweet: “GST collection for October 2021 registered the second-highest since the implementation of GST Rs 1,30,127 crore gross GST revenue collected in October. Revenues… of October 2021 are 24\% higher than the GST revenues in the same month last year & 36\% over ’19-20.”
What is highest GST collection?
Rs 1,41,384 crore
GST collection for October stood at Rs 1,30,127 crore. The government had recorded its highest ever collection of GST in April 2021 at Rs 1,41,384 crore. The revenues for October are 24 per cent higher than the GST revenues in the same month last year and 36 per cent more than 2019-20.
Which state has highest GST collection?
| State | \% growth | |
|---|---|---|
| 1 | Jammu and Kashmir | 20\% |
| 2 | Himachal Pradesh | 18\% |
| 3 | Punjab | 24\% |
| 4 | Chandigarh | 4\% |
What is the GST collection in April 2021?
GST collection for April of Rs 1,41,384 crore sets new record. Out of the total amount collected, CGST stood at Rs 27,837 crore, SGST at Rs. 35,621, IGST at Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess at Rs.
What does GST collection indicate?
M S Mani, senior director, Deloitte India, said: “The GST collection figures indicate that growth in the economy is leading to stable collection, which would help in achieving the fiscal deficit target of 6.8 per cent of GDP.
What is the GST collection in June 2021?
June GST collections stand at Rs 90,917 crore Of the Rs 90,917 cr revenue, CGST stood at Rs 18,980 crore, SGST at Rs 23,970 crore and IGST at Rs 40,302 crore, which included Rs 15,709 crore collected on import, the Finance Ministry said in statement.
How much GST does each state get?
GST breakdown state by state 2018-19
| State | GST share per dollar | GST share \% |
|---|---|---|
| NSW | 85c | 27.4 |
| SA | $1.47 | 10.3 |
| Tas | $1.77 | 3.7 |
| ACT | $1.18 | 2.0 |
How much is the GST in India?
In India GST rate for various goods and services is divided into four slabs: they are 5\% GST, 12\% GST, 18\% GST, & 28\% GST….Revision of GST Rates announced in the 37th GST Council Meeting.
| Goods or commodities | New rate | Old rate |
|---|---|---|
| Hotels with Room Tariff from Rs 1,001 to Rs 7,500 | 12\% | 18\% |
How much is the GST collection in August 2021?
“The gross GST revenue collected in the month of August 2021 is Rs 1,12,020 crore of which Central GST is Rs 20,522 crore, State GST is Rs 26,605 crore, Integrated GST is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods) and Cess is Rs 8,646 crore (including Rs 646 crore collected on import of …
What is the GST collection for May 2021?
The gross GST revenue stood at Rs 1,02,709 crore out of which CGST is Rs 17,592 crore, SGST is Rs 22,653 crore. The revenues for the month of May 2021 are 65\% higher than the GST revenues in the same month last year.