GST mop-up rises 12 per cent to Rs 1.96 lakh crore in January

Gross GST gross roseate 12.3 per cent to Rs 1.96 lakh crore successful January connected higher home economical activity, authorities information showed connected Saturday.

This includes 10.4 per cent maturation successful gross from merchantability of goods and services domestically astatine Rs 1.47 lakh crore and 19.8 per cent emergence successful taxation gross from imported goods astatine Rs 48,382 crore.

Total gross GST gross stood astatine Rs 1,95,506 crore successful January, a 12.3 per cent maturation year-on-year.

Refunds of Rs 23,853 crore were issued during the month, a emergence of 24 per cent. Total nett GST revenue, aft adjusting refunds, stood astatine Rs 1.72 lakh crore, higher by 10.9 per cent.

KPMG, Indirect Tax Head & Partner, Abhishek Jain said this accordant summation successful GST postulation could bespeak an uptick successful economical maturation and sustained taxation compliance by businesses.

"Notably, the maturation successful collections contempt higher refunds is commendable, suggesting improved ratio successful refund processing by the department—an encouraging measurement toward enhancing easiness of doing business," Jain added.

Deloitte India, Partner, MS Mani said with important increases of 10-20 per cent successful GST postulation successful ample states similar Tamil Nadu, Maharashtra, Gujarat Telangana and UP, interest for State and Central GST authorities is that akin ample states similar Karnataka, Haryana, Rajasthan, MP, Punjab and West Bengal person shown a emergence of conscionable 5-9 per cent.