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GST revenues for March 2021 touches all-time high of Rs 1.23 lakh crore: Finance Ministry

GST revenues for March 2021 touches all-time high of Rs 1.23 lakh crore: Finance Ministry
GST collections for March are 27% higher than the same month last year and are 14% higher in January-March quarter FY21.
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Updated: Apr 1, 2021, 09:26 PM IST
The Finance Ministry said on Thursday, Goods and service tax (GST) revenue touched an all-time high in March 2021, with the government collecting nearly Rs 1.23 lakh crore in March 2021. This is a 27% growth over the year-ago period.
GST collections for March are 27% higher than the same month last year and are 14% higher in January-March quarter FY21 versus the full fourth quarter for FY20.
The Ministry has settled Rs 21,879 crore to CGST and Rs 17,230 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled Rs 28,000 crore as IGST ad-hoc settlement in a 50:50 ratio between the Centre and the states/UTs. The total revenue of the Centre and the states after regular and ad-hoc ....

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Petrol At Rs 75, Diesel At Rs 68: What Oil Under GST Means For Consumers And Govt; It's A Win Win

Petrol At Rs 75, Diesel At Rs 68: What Oil Under GST Means For Consumers And Govt; Itâs A Win Win
by Swarajya Staff - Mar 5, 2021 04:50 AM
A petrol pump in India (Photo by Karen Dias/Bloomberg via Getty Images)
Snapshot
As per a report by SBI, if petrol and diesel were to be brought under GST then their base price would be Rs 75 and Rs 68 per litre respectively. Moreover, this will have little negative impact on fiscal math of the centre and states.
Resentment against the ruling dispensation is growing among Indian public over rising fuel prices as petrol retails around Rs 90 in most states and touching Rs 100 in some. With assembly elections in Assam, West Bengal, Tamil Nadu, Puducherry and Kerala round the corner, the politicians in power are scrambling to come up with a strategy to cut prices and calm the tempers. ....

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