GST collections hit record high of over Rs 1.15 lakh crore in December | Business – Times of India Videos

The gross Goods and Services Tax (GST) collections touched a record high of over Rs 1.15 lakh crore in December. The GST collections are highest since the implementation of the regime. It also indicates that the Indian economy continues to show signs of recovery after a stringent lockdown last year. With this, the GST has also now crossed the psychological Rs 1 lakh crore-mark for the third straight month in the current fiscal. The finance ministry has said that the continued rise in the GST mop up is due to the combined effect of rapid economic recovery post-pandemic and the drive against GST evaders. The gross GST revenue collected in the month of December 2020 was Rs 1,15,174 crore, 12 per cent higher than over Rs 1.03 lakh crore collected in December 2019.