GST Collection At All Time High In March 2022, 1,42,095 Crore Gross GST Revenue Collected

GST Collection: After the implementation of the GST law in the country, the record GST collection so far has come in March 2022. In the last month of the financial year 2021-22 i.e. March 2022, the GST collection has come to Rs 1.42 lakh crore i.e. Rs 1,42,095 crore. This is the highest ever GST tax collection in a single month.

The Ministry of Finance has given this information from its official Twitter handle sometime back and said that the GST collection has come to a record level and it has broken its record of Rs 1,40,986 crore as of January 2022.

Know complete tax collection
The gross GST collection revenue in March 2022 was Rs 1,42,905 crore in which the share of CGST was Rs 25,830 crore and SGST was Rs 32,378 crore. The collection of IGST has been Rs.39,131 crore and the contribution of Cess is Rs.9417 crore. In this, a collection of Rs 981 crore has been achieved on the import of goods. Gross GST collection has been at an all-time high and has beaten the all-time high collection figure of Rs 1,40,986 crore in January.

Significant growth on a year-on-year basis
On a year-on-year basis also, there has been a significant increase in the GST collection and it is 15 percent more than the collection of the same month last year i.e. March 2021. At the same time, it is 46 percent more than the GST collection of March 2020.

E-way bill also increased
During March 2022, revenue from import of goods was up 25 per cent and revenue from domestic transactions, including import of services, saw an increase of 11 per cent over the same month last year. Talking about the total e-way bill, it was 6.88 crore in January 2022 and in February 2022 this figure has come to 6.91 crore. Despite the short month of February, the increase in e-way bills is an indication that business activities in the country are gaining momentum.

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