The GST mop exceeds Rs 1.1 lakh crore in high presentations, less leakage
NEW DELHI: GST exceeded Rs 1.1 lakh crore in January, increasing by almost 8% compared to Rs 1.02 lakh crore in January 2019, due to better compliance and leakage at the back of the data analysis.
At the current level, collections are the highest since Rs 1.14 lakh crore sold out last April (for sales in March 2019) and suggest that the authorities have achieved the goal for the month, something they had not achieved do for most of the current financial year.
While the final figures will be released on Saturday, according to sources, nearly 83 lakh statements were filed for December, compared with 73 lakh a year ago. Government officials said the 13% jump reflected better compliance.
Like the previous months, these are GST in imports, which is reflected in the integrated collections of GST, which has reduced the general collections, dropping an estimated 6% to around Rs 23,500 crore. In contrast, the central and state GST collections have increased more than 11% to more than Rs 85,000 crore, sources said.