Moneycontrol

Budget 2023Budget 2023
Register Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023

January expected to see record GST collection: Report

After clocking record collections in December 2020 at Rs 1.15 lakh crore, the January 2021 GST collection is expected to be in the range of Rs 1.21-1.23 lakh crore and may still have an upside, SBI Research said in a noted on Thursday.

January 29, 2021 / 08:34 AM IST
GST | Representative Image

GST | Representative Image

With record GST collections expected in January at Rs 1.21-1.23 lakh crore, the shortfall in state GST can be narrowed to a minimal Rs 11,000 crore, according to a report.

Ongoing efforts to plug the leakages in GST collection has been bearing fruit since September.

After clocking record collections in December 2020 at Rs 1.15 lakh crore, the January 2021 GST collection is expected to be in the range of Rs 1.21-1.23 lakh crore and may still have an upside, SBI Research said in a noted on Thursday.

If 50 per cent of the IGST collected is disbursed to the states by March, then the state GST shortfall can narrow down to only a minimal Rs 11,000 crore after taking into account the full compensation cess, the report added.