The General Budget for the financial year 2021-22 is to be presented in Parliament on Monday.
Finance Minister Nirmala Sitharaman will present the budget for the third time. At the same time, it is a news of relief for the government before the budget that the GST collection is the highest in January. The Ministry of Finance said on Sunday that the GST collection in January was a record Rs 1.20 lakh crore. Explain that this is the largest figure since GST was implemented.
How much GST collection happened
According to Finance Ministry data, till 6 pm on January 31, GST collection of Rs 1,19,847 crore has been done. It has a CGST of Rs 21,923 crore. There is a collection of SGST of Rs 29,014 crore and IGST of 60,288 crore rupees.
From December to January 21, 90 lakh GSTR-3B returns have been filed. This figure may increase further due to the higher number of GST sales returns filed.
The rate of recovery is fast.
GST collection figures have been steadily increasing for the last few months. This is an indication that the economy is recovering. The GST collection in December 2020 was Rs 1,15,174 crore. This was about 12 per cent more than in December of 2019. At the same time, the total GST collection in November 2020 was Rs 1,04,963 crore.
