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GST Revenue collection for January 2021 almost touches Rs. 1.20 lakh crore

  • Be N By IAS, Delhi
  • 31, Jan 2021
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For : GS-3: Indian Economy, Resource mobilisation, GST


The revenues for the month of January 2021 are 8% higher than the GST revenues of Jan 2020, which in itself was more than Rs.1.1 lakh crore.


Highest monthly tax collection: Recording the highest monthly tax collection, the Goods and Services Tax (GST) revenue collection for January 2021 has touched nearly ₹1.20 lakh crore.

  • The tax collection is higher than the December 2020 record set in the last round, which witnessed an unexpected rise of 11.6 per cent.

Distribution of GST: The gross GST revenue collected is ₹1,19,847 crore of which

  1. CGST is ₹21,923 crore,
  2. SGST is ₹29,014 crore,
  3. IGST is ₹60,288 crore (including ₹27,424 crore collected on import of goods) and
  4. Cess is ₹8,622 crore (including ₹883 crore collected on import of goods)

Import revenue grows: Marking an upward trend in trade:

  • Revenues from import of goods were 16% higher and
  • Revenues from domestic transactions, including import of services, are 6% higher than the revenues from these sources during the same month last year.

Highest since the introduction of GST: Highest since the introduction of GST, the revenue has almost touched the ₹1.2 lakh crore mark, exceeding last month’s record collection of ₹1.15 lakh crore.


Clear indicators of rapid economic recovery: GST revenues above ₹1 lakh crore for a stretch of last four months and a steep increasing trend over this period are clear indicators of rapid economic recovery after the coronavirus pandemic. FACTORS FOR


Following have contributed to the steady increase in tax revenue over the last few months.

  • Closer monitoring against fake-billing,
  • Deep data analytics using data from multiple sources including GST,
  • Income-tax and customs IT systems and effective tax administration


  • It was launched on 1st July 2017.
  • It is a
    • Multi-stage,
    • Comprehensive,
    • Destination-based tax
  • Four slabs: of 5, 12, 18, and 28 percent.
  • Exempted Products: Levied on every product except
    • Petroleum,
    • Alcohol,
    • Tobacco, and
    • Stamp duty on real estate
  • It has been established by the 101st Constitutional Amendment Act.

Source: The Hindu


Q. Which of the following statements is/are correct regarding Goods and Services Tax (GST)?

  1. GST is a Multi-stage, Comprehensive, Destination-based tax.
  2. Gross GST revenue collected in December 2020 rose to an all-time monthly high since the implementation of the new tax regime.
  3. GST is exempted on Petroleum and Tobacco.

Select the correct statements.

  • a) Only 1 and 2
  • b) Only 2 and 3
  • c) Only 3 and 1
  • d) 1,2 and 3