2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 2.03 lakh cr
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Rs 3.03 lakh cr
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Rs 1.50 lakh cr
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Rs 1.03 lakh cr
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Detailed explanation-1: -GST collection in May at over Rs 1.40 lakh crore; 15% lower than last month. NEW DELHI: Goods and services tax (GST) collection for the month of May came in at Rs 1, 40, 885 crore, the finance ministry said in an official release on Wednesday.
Detailed explanation-2: -The total GST collection in India 2021-22 or annual GST collection in India for FY 2021-22 was Rs. 14, 76, 000 crore. Below is the year wise GST collection since the inception of GST.
Detailed explanation-3: -The GST revenues in July include Central GST collections of ₹25, 751 crore, State GST collections of ₹32, 807 crore, and Integrated GST or IGST inflows of ₹79, 518 crore, which includes ₹41, 420 crore collected on the import of goods.
Detailed explanation-4: -This amount is also 15% higher than the GST collections in December 2021, which were Rs 1, 29, 780 crore. In addition, GST revenues have consistently exceeded Rs 1.4 lakh crore for the past 10 months in a row.
Detailed explanation-5: -GST collections in August 2021 had stood at Rs 1, 12, 020 crore. Revenues from the import of goods was 57 per cent higher, and the revenues from domestic transactions (including import of services) were 19 per cent higher than the revenues from these sources during the same month last year.