GST collections surge to record Rs 1.41 lakh crore in April, hits Rs 1 lakh cr for 7th month in row

The gross GST revenue collected in the month of April 2021 set a new record of Rs 1,41,384 crore. The GST collections remained above the Rs 1 lakh crore mark for the seventh month in a row in April, the finance ministry said on Saturday.

Of the Rs 1.41 lakh crore collection, CGST is Rs. 27,837 crores, SGST is Rs 35,621, IGST is Rs 68,481 crore (including Rs 29,599 crores collected on import of goods) and Cess is Rs 9,445 crores (including Rs 981 crores collected on import of goods).

“Despite the second wave of COVID-19 pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month,” according to a statement by Ministry of Finance.

The collections from the service sectors have been impacted due to lockdowns in certain states in view of the second wave of the COVID-19 pandemic. However, the GST collection saw increased compliance from the bigger and organised sectors. 

The closer of smaller, unorganised sectors due to the pandemic has shifted their share of the business to the bigger and organised sectors. This has meant more tax revenues since almost all bigger players are under the tax net.

The government has also been closely monitoring compliance and taking steps to curb evasion.

However, a significantly lower level of economic activity in the month of April is expected to give way to muted collections in the coming months, experts said. Hence it is believed that the GST collections are unlikely to sustain this trend. 

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