Goods and Services Tax – GST Dated:- 13-4-2021 – News – Provisional Net Indirect Tax collections (GST Non-GST) for the Financial Year 2020-21 show growth of more than 12% compared to actual Revenue Receipts in FY 2019-20. Net Indirect Tax collections represent 108.2% of the Revised Estimates of ₹ 9.89 lakh crore of Indirect Taxes for the F.Y. 2020-21. The provisional figures for indirect tax collections (GST non-GST) for the Financial Year 2020-21 show that net revenue collections are at ₹ 10.71 lakh crore as compared to 9.54 lakh Crore for the Financial Year 2019-20, thereby registering a growth of 12.3%. Net Indirect Tax Collection for the Financial Year 2020-21 shows that 108.2% of the Revised Estimates (RE)
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e previous Financial Year. Revised estimates of Net GST collection including CGST and Compensation Cess for FY 2020-21 was ₹ 5.15 Lakh Crore , Thus, the actual net GST collections is 106% of total targeted collection, though these are 8% lower than the last FYs collection. The GST collections were severely affected in the first half of the Financial year on account of Covid. However, in the second half, the GST collections registered a good growth and collections exceeded ₹ 1 lakh crore in each of the last six months. March saw an all-time high of GST collection at ₹ 1.24 lakh crore after very good figures in the month of January and February. Several measures taken by the Central Government helped in improving compliance
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