Ministry of finance has confirmed that the GST revenues during March 2021 are the highest since introduction of GST.
The gross GST revenue collected in the month of March 2021 is recorded at Rs 1,23,902 crore. Out of which CGST is Rs 22,973 crore, SGST is Rs 29,329 crore, IGST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and Cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods).
The Ministry Further informed that it has settled Rs 21,879 crore to CGST and Rs 17,230 crore to SGST from IGST as regular settlement and Rs 28,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs.
The total revenue of Centre and the States after total settlements in the month of March’ 2021 is Rs 58,852 crore for CGST and Rs 60,559 crore for the SGST. Centre has also released a compensation of Rs 30,000 crore during the month of March 2021.
Monthly gross GST revenues trends during the current year:
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Knowledge Source:
GST Composition Scheme for Service Providers