Economy

GST collections top Rs 1 lakh crore in January

Updated : January 31, 2019 06:51 PM IST

This is the third time in current fiscal that GST (Goods and Services Tax) collections has crossed the Rs one lakh crore-mark.

Conventionally, GST collection data for a month is released on first day of the subsequent month.

GST collections in January crossed Rs 1 lakh crore-mark, after a gap of 2 months, the Finance Ministry said on Thursday.

"The total gross GST Revenue collected in the month of January, 2019 has today crossed Rs 1 lakh crore. This has been a significant improvement over collection of Rs 94,725 crore during last month and Rs 89,825 crore during the same month last year," the ministry tweeted.

This is the third time in current fiscal that GST (Goods and Services Tax) collections has crossed the Rs one lakh crore-mark. Previously in April and October, the collections had surpassed this milestone.

GST collection stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July, Rs 93,960 crore in August, Rs 94,442 crore in September, Rs 1,00,710 crore in October, Rs 97,637 crore in November and Rs 94,725 crore in December 2018.

"This increase has been achieved despite various Tax Relief measures implemented by the GST Council to lower the tax burden on the consumers," the ministry said.

Conventionally, GST collection data for a month is released on first day of the subsequent month. However, for the month of January, the full details of the revenue mopped-up will be released on February 2.