GST collections have grossed ₹ 1,42,095 crore in March, an all-time high.
Market NewsReported by Himanshu Shekhar Mishra, Edited by Rahul Karunakar (with inputs from PTI)Updated: April 01, 2022 4:07 pm IST
All time high Gross GST collection in March 2022
Goods and services tax (GST) collections have grossed ₹ 1,42,095 crore in March, an all-time high, breaching the earlier record of ₹ 1,40,986 crore collected in January 2022, said the finance ministry on Friday.
The gross GST revenue collected in March 2022 was ₹ 1,42,095 crore, of which CGST (Central Goods and Services Tax) was ₹ 25,830 crore, SGST (State Goods and Services Tax) was ₹ 32,378 crore, IGST (Integrated Goods and Services Tax) was ₹ 74,470 crore (including ₹ 39,131 crore collected on import of goods), and cess was ₹ 9,417 crore (including ₹ 981 crore collected on import of goods).
The revenues for March 2022 are 15 per cent higher than the GST revenues in the same month last year.
“The improvement in revenue has also been due to various rate rationalisation measures undertaken by the Council to correct inverted duty structure,” the ministry said.