GST collection may break records this month, expected to get Rs 1.45 to 1.50 lakh crore

Goods and Services Tax (GST) collection may break records this month. It is expected that the government can get Rs 1.45 to 1.50 lakh crore through this. The highest ever tax of Rs 1.42 lakh crore was received in March. In April 2021, the government had received Rs 1.41 lakh crore, which was the second highest record.

The Finance Ministry has been quoted as saying that this time more e-way bills have been generated on a monthly basis, due to which there will be an increase in tax. If the government gets Rs 1.45 lakh crore in April, then this will be the tenth consecutive month in which more than one lakh crore will be taxed.

Getting more than 1 lakh crore tax every month since July

Since July, 2021 till now, every month more than one lakh crore rupees have been received in tax. On a monthly basis, the highest increase of 33 per cent was in the month of July itself. A total of Rs 14.83 lakh crore was received under GST in the financial year 2021-22.

This was 30 percent more than the Rs 11.37 lakh crore received in 2020-21. It is believed that due to the improvement in the economy and curbing evasion, there is an increase in tax collection.

The Finance Ministry had said on April 25 that a group of ministers is yet to submit a report on tax rates. This group was created last year. Accordingly, the tax rates are to be revised.

 

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