GST Collection April 2022: GST revenue collection hits record Rs 1.68 lakh crore in April – The Economic Times

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/gst-revenue-collection-hits-record-rs-1-68-lakh-crore-in-april/articleshow/91230829.cms

Synopsis

This comes after the second highest collection of ₹1.42 lakh crore that was reported in the month of March 2022.

Goods and services tax (GST) collections touched an all-time high of over ₹1.68 lakh crore in April on the back of improving economic activities.

This comes after the second highest collection of ₹1.42 lakh crore that was reported in the month of March 2022.

The April collection is ₹25,000 crore higher than that in March.

GST Collections
The gross GST collected in April is ₹ 1,67,540 crore out of which CGST is ₹ 33,159 crore, SGST is ₹ 41,793 crore, IGST is ₹ 81,939 crore and cess is ₹ 10,649 crore.

The revenues for the month of April 2022 are 20% higher than the GST revenues in the same month last year. In this month, revenue collected from import goods was 30% higher and that collected from domestic transactions increased by 17%.

It was the first time that the gross GST collection has crossed the mark of ₹ 1.5 lakh crore.

Highest tax collection during the month was observed on April 20, 2022.

In a statement, the finance ministry said that there is a “clear improvement in the compliance behaviour, which has been a result of various measures taken by the tax administration to nudge taxpayers to file returns timely, to making compliance easier and strict enforcement action was taken against errant taxpayers identified based on data analytics and artificial intelligence”.

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