The GST collection reached a record high of Rs 1.23 lakh crore in March. The Finance Ministry gave this information in a statement. The Finance Ministry said on Thursday that the total GST revenue collection in the month of March 2021 has been Rs 1,23,902 crore. It has Central GST (CGST) of Rs 22,973 crore, States GST (SGST) of Rs 29,329 crore, Integrated GST (IGST) of Rs 62,842 crore and Cess of Rs 8,757 crore (which includes Rs 935 crore on import of goods).
The government said in a statement that it has made a settlement of Rs 21,879 crore in CGST and Rs 17,230 crore in SGST as a regular settlement from IGST. The Center has also issued a compensation of Rs 30,000 crore during the month of March 2021.
According to the government, GST revenue during March 2021 has been the highest since its introduction. For the past five months, according to the trend of recovery in GST revenue, the revenue in March 2021 was 27 per cent higher than the GST revenue in the same month of the previous year. During the month, revenue from goods imports was 70 per cent higher and revenue from domestic transactions (which includes import of services) was 17 per cent higher than the revenue from these sources during the same month last year.
