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.
Corona: America agreed to help, then Doval came into the discussion, know-how Indian foreign policy showed amazing in 24 hours
The second wave of the Corona epidemic has caused havoc in the country. After stopping earlier in this difficult time of crisis, now America has assured India to provide the raw material for vaccine
C-295 aircraft will be made for the first time in the country: Tata's deal with European company Airbus; PM Modi will inaugurate the project
C-295 transport aircraft will be built for the Air Force in Vadodara, Gujarat. For this, Tata has tied up with the European company Airbus. The special thing is that such aircraft were not made in the
Weather Update: Heavy rain in 21 states including Delhi-UP, railway line caved in, Badrinath Highway closed due to landslides
Amidst the G-20 summit, the weather patterns changed in 21 states including the national capital. Heavy to very heavy rain occurred from west to east and from north to south in India including Delhi,
What is the Pakistani media saying on PM Modi and Sneha Dubey in the UN
In its first reaction to the speech given by Indian Prime Minister Narendra Modi in the United Nations General Assembly, Pakistan has made a scathing remark on the Indian Prime Minister.
To provoke tension between Russia and Ukraine, know who is adding fuel to the fire, what is his big game plan behind it.
Tensions between Russia and Ukraine have escalated for some time now. Talking about some special reasons for this, in these, Russia has control over Ukraine-occupied Crimea, as well as the other
IND vs ENG: 'Only on flat pitches...', what did Manjrekar say about Indian batsmen? He also spoke about Pant's injury
Former Indian cricketer and commentator Sanjay Manjrekar has praised the Indian batting in Manchester. He believes that India's young batsmen performed brilliantly in adverse conditions on the first
Built a grand city in 600 acres, zero expense: all the money was donated, the designer is 6th pass, the owners of 5 thousand crores worked
Pramukh Swami Maharaj Nagar has been constructed in Ahmedabad for the centenary celebrations of Pramukh Swami Maharaj without spending a single penny. Prime Minister Narendra Modi will inaugurate this
Cyberattack by Chinese hackers: Intelligence firm claims - Hackers targeted power grid near Ladakh, tried to steal information
Chinese hackers targeted the power grid near Ladakh a few months ago. Their motive was to steal important information. Recorded Future, a private intelligence firm based in Massachusetts, USA, has
Airline companies in India will buy more than 1100 aircraft, Indigo alone has ordered about 500 aircraft
The order of 470 aircraft by Tata Group-owned Air India is being discussed all over the world but Air India is not the only company in India to buy a record number of aircraft. Various domestic
Coronavirus Update: Corona cases decreased again today, with 3157 new cases in 24 hours, 26 people died
There is news of some relief in the cases of Corona in the country. For the second day in a row, a decrease in corona cases has been registered. In the last 24 hours, 3,157 new cases of corona have
