Gross revenue from the Goods and Service Tax hit a record high of ..... lakh crore in April 2021.

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Gross revenue from the Goods and Service Tax hit a record high of ____ lakh crore in April 2021.

A	1.42
B	1.51
C	1.41
D	1.52

Explanation:

Detailed explanation-1: -Rs. 1, 41, 384 crore of which CGST is Rs. 27, 837 crore, SGST is Rs. 35, 621, IGST is Rs 68, 481 crore (including Rs.

Detailed explanation-2: -The official further said as per estimates, the average yearly revenue from GST in 2022-23 is expected to be around Rs 1.55 lakh crore. The collection in April was at a record high of Rs 1.68 lakh crore.

Detailed explanation-3: -Experts said the rise could also be attributed to year-end activity, higher inflation rate, input tax credit being allowed only on timely compliance by vendors and high value of imports.

Detailed explanation-4: -The gross GST revenue collected during December 2022 is Rs 1, 49, 507 crore, of which CGST is Rs 26, 711 crore, SGST is Rs 33, 357 crore, IGST is Rs 78, 434 crore (including Rs 40, 263 crore collected on import of goods) and Cess is Rs 11, 005 crore (including Rs 850 crore collected on import of goods).

There is 1 question to complete.