Avg monthly GST mop-up at Rs 1.66 lakh cr so far this fiscal: FM Nirmala Sitharaman
GST collection has been showing an upward trend on an annual basis since its rollout on July 1, 2017, and the average gross monthly mop-up in the current fiscal so far is Rs 1.66 lakh crore, Finance Minister Nirmala Sitharaman said on Monday. In a written reply to a question in the Lok Sabha, she said the GST collection crossed Rs 1.50 lakh crore mark in every month of the current fiscal and had touched a record high of Rs 1.87 lakh crore in April 2023.
«GST collection has been showing an upward trend on year-on-year basis since the implementation of GST w.e.f.
1st July, 2017… The average gross monthly GST collection in FY 2023-24 now stands at Rs 1.66 lakh crore and is 11 per cent more than that in the same period in the previous financial year,» Sitharaman said.
The average monthly Goods and Services Tax (GST) collection in 2022-23 was over Rs 1.50 lakh crore, higher than Rs 1.23 lakh crore in 2021-22. In 2020-21, the average monthly mop-up was Rs 94,734 crore.
In reply to a separate question, Minister of State for Finance Pankaj Chaudhary said the monthly average gross GST collection for 2021-22 and 2022-23 have shown 30 per cent and 22 per cent year-on-year growth respectively.
«GST is paid on self-assessment basis and tax administration at Central and State level is empowered to take action against cases where GST is not paid and short paid. Detection of such cases and recovery of taxes not paid or short paid is a continuous process,» Chaudhary said.
