{"id":414,"date":"2022-06-01T14:29:47","date_gmt":"2022-06-01T13:29:47","guid":{"rendered":"https:\/\/www.klickongstworld.com\/blog\/?p=7374"},"modified":"2022-06-01T17:26:17","modified_gmt":"2022-06-01T16:26:17","slug":"gst-revenue-collection-for-march-2021","status":"publish","type":"post","link":"https:\/\/www.klickongstworld.com\/blog\/gst-revenue-collection-for-march-2021\/","title":{"rendered":"GST Revenue collection for March, 2021"},"content":{"rendered":"<p>The  gross GST revenue collected in the month of March 2021 is at a record of <strong>Rs. 1,23,902 crore <\/strong>of which CGST is <strong>Rs. 22,973 crore<\/strong>, SGST is <strong>Rs. 29,329 crore<\/strong>, IGST is <strong>Rs. 62,842 crore <\/strong>(including Rs. 31,097 crore collected on import of goods) and Cess is <strong>Rs. 8,757 crore <\/strong>(including Rs. 935 crore collected on import of goods).<\/p>\n<p>  The government has  settled Rs. 21,879 crore to CGST and Rs. 17,230 crore to SGST from IGST as regular settlement. In addition,  Centre has also settled Rs. 28,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States\/UTs. The total revenue of Centre and the  States after regular and ad-hoc settlements in the month of March 2021 is Rs. 58,852 crore for CGST and Rs. 60,559  crore for the SGST. Centre has also released a compensation of Rs. 30,000 crore during the month  of March 2021.<\/p>\n<p>  The GST revenues during  March 2021 are the highest since introduction of GST. In line with the trend of recovery in the GST  revenues over past five months, the revenues for the month of March 2021 are <strong>27% higher <\/strong>than the GST revenues in the same month last year.  During the month, revenues  from import of goods was <strong>70% higher <\/strong>and the revenues from domestic transaction (including import of services)  are <strong>17% higher <\/strong>than the revenues  from these sources during the same  month last year. The GST revenue witnessed growth rate of (-) 41%, (-) 8%, 8% and 14% in the first, second, third and  fourth quarters of this financial year, respectively, as compared to the same period last year, clearly indicating the  trend in recovery of GST revenues as  well as the economy as a whole.<\/p>\n<p>  GST revenues crossed  above Rs. 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period  are clear indicators of rapid economic recovery post pandemic. Closer monitoring against fake-billing, deep data  analytics using data from multiple sources  including GST, Income-tax and Customs IT systems and effective tax  administration have also contributed to the steady  increase in tax revenue  over last few months.<\/p>\n<p>The chart below shows  trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of  GST collected in each State during the month of March 2021 as compared to  March 2020.<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.klickongstworld.com\/blog\/wp-content\/uploads\/2022\/06\/clip_image001_0001.png\" alt=\"\" width=\"604\" height=\"394\" class=\"alignnone size-full wp-image-7375\" srcset=\"https:\/\/www.klickongstworld.com\/blog\/wp-content\/uploads\/2022\/06\/clip_image001_0001.png 604w, https:\/\/www.klickongstworld.com\/blog\/wp-content\/uploads\/2022\/06\/clip_image001_0001-300x196.png 300w\" sizes=\"(max-width: 604px) 100vw, 604px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The gross GST revenue collected in the month of March 2021 is at a record of Rs. 1,23,902 crore of which CGST is Rs. 22,973&hellip;<\/p>\n","protected":false},"author":1,"featured_media":386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/414"}],"collection":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/comments?post=414"}],"version-history":[{"count":0,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media\/386"}],"wp:attachment":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media?parent=414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/categories?post=414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/tags?post=414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}