InvestorQ : Is it true that GST collections in April 2021 touched record levels? How did it happen despite the lockdowns?
Arusha Ray made post

Is it true that GST collections in April 2021 touched record levels? How did it happen despite the lockdowns?

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2 months ago
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GST collections for April 2021 hit a record level of Rs.141,384 crore. Out of this, the CGST component was Rs.27,837 crore, SGST Rs.35,621 and the inter-state IGST Rs.68,481 crore. It is not only the best monthly collection ever but bettered March by a huge margin. Even the revenues from the import of services were up 21% over last month.

April marks the seventh consecutive month when the GST revenues have sustained above the Rs.100,000 level. Of course, April normally sees a bunching of GST collections so that level may not sustain. Also, there is some likely hit on the manufacturing and services output in April and May that is likely due to the lockdown.

Experts have proffered several reasons for this growth including better monitoring and plugging of loopholes in the system, monitoring against fake-billing, use of AI for deep data analytics from multiple sources of information and a more effective tax administration. Some of the deterrent actions in the recent past have also helped.

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