GST collection for Dec 2020 Recorded Highest Of All Time

The Goods and Services Tax (GST) revenues for the month of December 2020 collected 12% higher than the GST revenues in last year. This is the highest growth in monthly revenues since last 21 months.

Minister of Finance and Corporate Affairs, Nirmala Sitharaman said, "The GST revenues during December 2020 have been the highest since the introduction of GST and it is the first time that it has crossed ₹ 1.15 lakh crore. The highest GST collection till now was ₹ 1,13,866 crore in the month of April 2019.

"The revenues of April normally tend to be high since they pertain to the returns of March, which marks the end of financial year. The December 2020 revenues are significantly higher than last month's revenues of ₹ 1,04.963 crore" she added.

This has been due to combined effect of the rapid economic recovery post pandemic and the nation-wide drive against GST evaders and fake bills along with many systemic changes introduced recently, which have led to improved compliance, the PIB reported.

During the month, revenues from import of goods was 27% higher and the revenues from domestic transaction are 8% higher that the revenues from these sources during the same month last year.