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Goods and services tax (GST) collection soared to an all-time high of Rs 1.68 trillion in April, staying above the Rs 1.10-trillion level since July last year. This is the first time the collection has crossed Rs 1.5 trillion mark. The previous high was recorded in March at over Rs 1.42 trillion.
“The gross GST collection in April 2022 is Rs 25,000 crore more than the next highest collection last month, the finance ministry said on Sunday while releasing the monthly collection data.
“The robust mop-up could be attributed to 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 smoother, and strict enforcement action taken against errant taxpayers identified based on data analytics and artificial intelligence, the ministry said
The total number of e-way bills generated in the month of March 2022 was 77 million, which is 13 per cent higher than 68 million e-way bills generated in the month of February 2022, which reflects the recovery of business activity at a faster pace, it said.
Of total collection, CGST was Rs 33,159 crore, SGST stood at Rs 41,793 crore, IGST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods).
The government has settled Rs 33,423 crore to CGST and Rs 26,962 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2022 after the regular settlement is Rs 66,582 crore for CGST and Rs 68,755 crore for the SGST.
The revenues for the month of April 2022 are 20 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 30 per cent higher and the revenues from the domestic transaction (including import of services) are 17 per cent higher than the revenues from these sources during the same month last year.
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