GST mop-up aim set at Rs 13 L cr

The government is targetting overall goods and services tax collections of around 13 trln rupees in the next financial year starting April, a senior finance ministry official said.

At 13 trln rupees, the average monthly collection works out to 1.08 trln rupees.

GST collections, which crashed in the initial months of the current fiscal due to the nationwide lockdown, have averaged around 1.11 trln rupees in the last four months.

"We are hoping that the same trend in GST collections will continue," the official told Informist.

Total GST collections in Apr-Jan declined 11.7% on year to 8.99 trln rupees.

The overall GST collection target for next year is 6.4% higher than 12.22 trln rupees collected in 201920. The Budget has projected Central GST and cess collections at 6.30 trln rupees in 2021-22, up 5.2% from 5.99 trln rupees in 2019-20.

The target for overall collections that includes state GST is not provided in the Budget.

India's total GST mop-up touched an all-time high of 1.20 trln rupees in January, surpassing the previous record of 1.15 trln rupees collected in December.