Record GST collection of 1 lakh 23 thousand crore in March

[INDIAPOSITIVE]

The record has been set in March in the case of GST collection. The highest GST collection so far in March was 1 lakh 23000 crores. This is another good news for the Indian economy coming out of recession. The GST collection crossed the Rs 1 lakh crore mark for the sixth consecutive month and crossed the Rs 1.1 lakh crore mark for the fourth consecutive time after the epidemic, indicating an improvement in the economy.

https://twitter.com/x/status/1377540161383276546

On Thursday, the Finance Ministry tweeted that due to strict monitoring, a record GST collection of Rs 1,23,902 crore has been collected in March, 2021. The Ministry has said that since GST came into force in the country, the highest GST collection has taken place in March, 2021.

Month	GST collection in crores of rupees
January 2021	120000
Feb 2021	113000
March 2021	123000
December 2020	1,15,174
November 2020	1,04,963
October 2020	1,05,155
September 2020	95,480
August 2020	86,449
July 2020	87,422
June 2020	90,917
May 2020	62,009
April 2020	32,294
March 2020	97,597
February 2020	105366
January 2020	110000

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Record GST collection of 1 lakh 23 thousand crore in March - 01/04/2021

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[Protest_again]

India is coming back strong.

 

[rishav]

Highest ever one month export in March at 34 billion dollars .

 

[RPK]

It is because of increased price in petroleum products. In turn increased in commodities prices

 

[Protest_again]

India after enforcing a complete lockdown for over 70 days has its GST collection for the entire year only down by 7%, Direct tax collections down 2-3% and corporate taxes up by 7% compared to previous fiscal of 2019-20. GOI has done a stupendous job in maintaining its revenue.

Exports for the whole year at $290 billion are only down 7% compare to previous fiscal even after the forced lockdown. Good job all around India.

 

[gulli]

If GST collection is increasing, Income tax should be applied only above the income of 10 lakhs/ annum... 2.5 lakhs make no sense anymore..

 

[Prince Kassad]

It is because of increased price in petroleum products. In turn increased in commodities prices

2021 is commodities year, sky high prices

 

[Protest_again]

If GST collection is increasing, Income tax should be applied only above the income of 10 lakhs/ annum... 2.5 lakhs make no sense anymore..

Really? India's annual per capita GDP is only 1.6 lakhs. If you are going to keep income tax slab starting at 10 lakhs, 98% of population will not pay income tax for next 20 years. Also between 2.5 lakhs to 5 lakhs, they only pay 5%. Its a minimum one should pay. Max of 30% starts only after 10 lakhs as it is. This is a good system and should be continued. This filing system also ensures our banking system extend loans to individuals based on their return filings.

 

[gulli]

Really? India's annual per capita GDP is only 1.6 lakhs. If you are going to keep income tax slab starting at 10 lakhs, 98% of population will not pay income tax for next 20 years. Also between 2.5 lakhs to 5 lakhs, they only pay 5%. Its a minimum one should pay. Max of 30% starts only after 10 lakhs as it is. This is a good system and should be continued. This filing system also ensures our banking system extend loans to individuals based on their return filings.

10 lakhs have different worth in some remote are of bihar than in capital city of Delhi. Allot of People drive SUVs hardly pay 1 rupee tax.. Why always honest law abiding citizens pay penalty of higher tax rate?? All know apart from 3 trillion economy there is a parallel economy which is much higher than 3 trillion is running in India. Do you want me to show you AC accommodations arranged by our poor "protesting farmers"??

 

[Protest_again]

10 lakhs have different worth in some remote are of bihar than in capital city of Delhi. Allot of People drive SUVs hardly pay 1 rupee tax.. Why always honest law abiding citizens pay penalty of higher tax rate?? All know apart from 3 trillion economy there is a parallel economy which is much higher than 3 trillion is running in India. Do you want me to show you AC accommodations arranged by our poor "protesting farmers"??

Then your comment should be about bringing all those outliers into tax bracket and not excuse everyone until they make 10 lakhs per annum. Contrary to your perception, even if you consider black economy, India is still poor and govt needs revenues to build up infrastructure.
With only increased revenue, our public life can improve.

 

[gulli]

Then your comment should be about bringing all those outliers into tax bracket and not excuse everyone until they make 10 lakhs per annum. Contrary to your perception, even if you consider black economy, India is still poor and govt needs revenues to build up infrastructure.
With only increased revenue, our public life can improve.

Do you see any effort from government to do the same?? What government should atleast do is to reward those who are honestly filling there ITR from last 5-10 years.

 

[Protest_again]

Do you see any effort from government to do the same?? What government should atleast do is to reward those who are honestly filling there ITR from last 5-10 years.

Why? Its not like they are asking your arms and legs. Do your duty as a citizen and stop worrying if someone else is doing it or not. 5% of tax that you pay for income over 2.5 lakhs is bare minimum.

India needs as many honest people as it can to do their duty. With technological advances a lot of them will come under the IT fold moving forward. GST is a good example. Over the past 6 months, GOI has brought in tremendous technological controls to monitor illegal activities. And it is reflected in present revenue increases. More needs to be done in both direct and indirect taxation.