pri Trends In GST Collections Trends In GST Collections

The  gross GST revenue collected in the month of December. 2039 is Rs. 1,03,184 crore of which CGST is Rs. 19,962 crore, SGST is Rs. 26,792 crore, IGST is Rs. 48,099 crore (including Rs. 21,295 erore collected on imports) and Cess is Rs. 8,331 crore (including Rs. 847 crore collected on imports). The total number of GSTR 3B Returns filed lor the month of November up to 31st December, 2019 is 81.21 lakh.

CBIC has for the first time provided state wise GST Collections in public domain. This shown a 16% growth in year on year collection in December, 2019.

Mop-UP Trend

YoY growth in GST revenue in December, 2019 is @ 9% (6% is November, 2019).  Besides stiff targets to field formations, Government’s measures to improve collection have yielded results. The YoY growth in domestic GST collections is still much higher @ 16%. It we consider IGST also, it would be 9% wherein there is a negative growth of 10 percent.

Total GST Collections upto December, 2019 (Rs. in crores) 

Month  2017-18 2018-19 2019-20
April 1,03,459 1,13,865
May 94,016 1,00,289
June 95,610 99,939
July 21,572 96,483 102083
August 95,633 93,960 98202
September 94,064 94,442 91916
October 93,333 1,00,710 95380
November 83,780 97,637 103492
December 84,314 94,726 103184
January 89,825 1,02,503
February 85,962 97,247
March 92,167 1,06,577
Total 7,40,650 11,77,369 908350
Average 89,885 98,114 100927

Fearing actions such as search & seizure, arrests, cancellation of registration and blocking of input tax credit can also be attributed as contributing factors. With e-invoicing and new returns, one can expect revenue leakage to be curbed, leading to increase in revenue. Tax evasion will also be curbed by more use of artificial intelligence, data analytics and other measures. The increased domestic tax collection also indicate that an efficient tax administration can bring in the desired difference. The focus now seem to be on plugging GST leakages and streamlining the GST system. Also, it would be too early to jump to a conclusion that the increase in revenue is indicative of  any economic recovery.

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July 2021