The country's economy is constantly improving. This is the reason that the Goods and Services Tax (GST) collection set a new record in March. According to government data, the GST collection in March stood at Rs 1,23,902 crore. It has grown by 27% compared to the same period a year ago. The GST collection stood at Rs 97,590 crore in March 2020. This is the sixth consecutive month when the GST collection has crossed Rs 1 lakh crore.
The Finance Ministry said that after the GST came into force, March 2021 has been the highest ever tax collection. Also, the trend of boom continues for the last 5 months. According to the data, GST from the import of goods has grown by 70%, while revenue from domestic transactions has gone up by 17%.
Confirmation on Bhaskar's news
Bhaskar's news has also been sealed with the record collection of GST in March. Bhaskar had told last week that the GST collection could be close to Rs 1.25 lakh crore in March. The surge in the GST collection has contributed to the fraud of fake companies and bills. Its GST network has greatly strengthened its IT system. GST teams are scrutinizing large-scale companies in all states.
How much collection did you get?
According to the data, the government has received Rs 22,973 crore from CGST, Rs 29,329 crore from SGST, and Rs 62,842 crore from IGST. The IGST also includes Rs 31,097 crore from goods imported and Rs 8,757 crore recovered as cess. Out of IGST, 21,879 crores have been settled in CGST and 17,320 crores in SGST. The GST collection declined by 41% in the first quarter and 8% in the second quarter for the fiscal year 2020-21, which ended on 31 March. There was 8% growth in the third quarter and 14% in the fourth quarter.
GST was implemented in 2017
GST came into force in 2017. This is the first time that the GST collection has been above 1 lakh crore for 6 consecutive months. The record of highest collection in any one month has also been named as of March 2021. GST collection was 1.05 lakh crore in October, 1.04 lakh crore in November, 1.15 in December, 1.19 in January, and 1.13 lakh crore in February.
3996 crore collection every day in March
The total GST collection in March stood at Rs 1,23,902 crore. If it is divided equally in 31 days, then there is a GST collection of Rs 3996 crore every day. However, it has been less since February in terms of daily. The daily collection was around Rs 4035 crore in February. The total collection was Rs 1,13,143 crore.
IND vs WI: Sanju Samson got off the car, and saluted the people - the video created panic on social media
A video of Team India's wicket-keeper batsman Sanju Samson is creating panic on social media. The last match of the series between India and the West Indies was played on Sunday in Florida, USA, which
Now 100 percent FDI in the telecom industry is a big condition for countries like China
Recently, the central government had announced to allow 100 percent foreign direct investment (FDI) in the telecom industry through the automatic route. Now the notification of this decision has also
Rajasthan: All is not well between Ashok Gehlot and Sachin Pilot? CM's taunt - Our leaders instigate workers
Rajasthan: Rajasthan Chief Minister Ashok Gehlot has indirectly taken a dig at former Deputy Chief Minister Sachin Pilot for 'respecting party workers', saying that workers should be respected, it has
Relief: DU extended the date of filling the examination form, for the semester examination to be held in May-June, the forms will now be submitted till April 19
Delhi University has extended the exam form filling date for the semester exams to be held in May-June. Now students can fill out the form by 11.55 pm on April 19. This is the last chance for the
G-7 Meeting: Focus on Indo-Pacific and Russia-Ukraine War; Joe Biden met Modi in a different way
The G-7 summit took place on Monday at the Schloss Elmau Palace in Germany. Prime Minister Narendra Modi also attended the invitation of German Chancellor Olaf Scholz. The summit focused on climate
3 big doctors of the country told Corona, how to compete with Covid-19, Guleria said - Do not think of remdesivir magic bullet
Corona infection has taken a formidable form in the country. Its coming record cases have raised the concerns of the Central and State Governments. Meanwhile, the country's three eminent doctors,
DC vs KKR: Sunil Narine can create history today, will become the first foreign spinner to do such a feat in IPL
The 41st match of IPL 2022 between Delhi Capitals and Kolkata Knight Riders is to be played at the Wankhede Stadium in Mumbai today. In this match, KKR's star spinner Sunil Narine has a chance to
New disclosure in the Choksi case: Mehul's alleged girlfriend said – The theory of Choksi's kidnapping is completely wrong; He was trying to escape to Cuba
New revelations are being made every day about Mehul Choksi, accused in the Punjab National Bank (PNB) scam. This time his conspiracies have been busted by his alleged girlfriend Barbara Jaberica.
NCB against Aryan's bail: Investigation agency preparing to go to Supreme Court; Bombay High Court had said – there is no evidence against Aryan
The Narcotics Control Bureau is preparing to move the Supreme Court against Aryan Khan's bail from the Bombay High Court. On Monday, on behalf of NCB, it was said that we were waiting for the detailed
Electronic machines were sent to the polling stations at 7 am tomorrow
Voting begins at 7 a.m. tomorrow in 1,374 wards in the metropolitan area, 3,843 wards in the municipal area, and 7,621 wards in the metropolitan area.
