The provisional web oblique tax collections (each GSTS and non-GST) for 2020-21 confirmed a 12% per cent development as they stood at Rs 10.71 lakh crore, in comparison with the collections of the corresponding interval which have been Rs 9.54 lakh crore.
The provisional figures launched by the Ministry of Finance on Tuesday, additional indicated that the web oblique tax assortment for FY21 confirmed that 108% of the Revised Estimates (RE) of oblique taxes for that fiscal have been achieved.
An announcement issued by the Finance Ministry additional stated that the web tax collections stood at Rs 1.32 lakh crore throughout FY21 as in comparison with Rs 1.09 lakh crore of the corresponding interval, due to this fact recording a 21% development.
The web tax collections on account of Centre’s GST (which consists of Central GST, Integrated GST in addition to Compensation Cess) throughout Financial Year 2020-21 was Rs 5.48 lakh as in comparison with Rs. 5.99 lakh crore within the earlier fiscal. Revised estimates of web GST assortment together with CGST and Compensation Cess for FY 2020-21 was Rs. 5.15 lakh crore.
Thus, the precise web GST collections is 106% of whole focused assortment, although these are 8% decrease than the final fiscal’s assortment, the assertion added.
