Goods and services tax revenue collected in January stood at ₹ 1.20 lakh crore a record high figure before the Union budget. The tax collection is higher than the December 2020 record set in the last round, which witnessed an unexpected rise of 11.6 per cent. Monthly GST revenues have been above ₹ 1 lakh crore for the last four months and a steep increasing trend over this period are clear indicators of rapid economic recovery following the COVID-19 pandemic.

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