December’s gross GST revenue collection is recognised as an all-time high, on which the Finance Secretary AB Pandey said that this rise is because the Indian economy is on the path of recovery.
As on January 1st, the Ministry of Finance shared that the gross GST revenue collected in the month of December 2020 increased to ₹1,15,174 crore, which apparently is said to be an all-time monthly high since the implementation of the new tax regime. This means that the figures of December are 12% higher as compared to the GST revenues in the same month last year.
✅GST Revenue collection for December 2020 recorded all time high since implementation of GST
✅The gross GST revenue collected in the month of December 2020 is ₹ 1,15,174 crore
— Ministry of Finance (@FinMinIndia) January 1, 2021
Consecutively from the past three months in the current financial year, the GST revenues have been more than ₹1 lakh crore. Specially the December 2020 revenues are remarkably higher than last month’s revenues of ₹1,04.963 crore.
The Finance Secretary said that Indian economy is on a quick recovery track as positive economic growth can be seen. He further added that for greater compliances the government has brought a lot of changes at the system level. Actions are taken against those who have discrepancies in their record.
While in conversation with the PTI, the Finance Secretary shared that the government has launched enormous elimination of GST evaders and amongst all action against 7,000 entities have been initiated, of which 187 are arrested.
He also talked about the arrest of 180 people in the last one – two months. In these arrests people like managing directors of companies and chartered accounts were also arrested in the matters relating to tax evasion. Since tax evasion is a serious crime, they have not been granted bail.
This action of arrest is based upon information that has been collected via the Income Tax Department, Customs unit, FIU and GST department and banks.