GST Collections In April Hit All-Time High Level; Govt Mops Up Rs 1,67,540 Crore

The GST collections in April hit an all-time excessive of Rs 1,67,540 crore on the again of higher compliance and quicker financial restoration. It is Rs 25,000 crore greater than the earlier highest assortment of Rs 1,42,095 crore recorded for March, the finance ministry mentioned in a press release on Sunday.

“The gross GST (items and companies tax) income collected within the month of April, 2022 is Rs 1,67,540 crore of which CGST is Rs 33,159 crore, SGST is Rs 41,793 crore, IGST is Rs 81,939 crore (together with Rs 36,705 crore collected) on import of products) and cess is Rs 10,649 crore (together with Rs 857 crore collected on import of products),” the statement said.

It added that the gross GST collection in April 2022 is all-time high, which is Rs 25,000 crore more than the previous highest collection of Rs 1,42,095 crore, just last month.

“This shows 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 smoother and strict enforcement action taken against errant taxpayers identified based on data analytics and artificial intelligence,” the ministry mentioned.

The revenues for April 2022 are 20 per cent larger than the GST revenues in the identical month final 12 months. “During the month, revenues from import of products was 30 per cent larger and the revenues from home transaction (together with import of companies) are 17 per cent larger than the revenues from these sources throughout the identical month final 12 months,” it added.

The statement said that for the first time, gross GST collection has crossed the Rs 1.5-lakh-crore mark. The total number of e-way bills generated in March 2022 was 7.7 crore, which is 13 per cent higher than the 6.8 crore e-way bills generated in February 2022, which reflects the recovery of business activity at a faster pace.

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