scorecardresearchGST collection in April hit the highest ever figure of <span class='webrupee'>₹</span>1.68 lakh crore

GST collection in April hit the highest ever figure of 1.68 lakh crore

Updated: 02 May 2022, 07:53 AM IST
TL;DR.

Gross GST collection in April 2022 is all time high, 25,000 crore more than that of March

For the first time gross GST collection has crossed  <span class='webrupee'>₹</span>1.5 lakh crore mark. Photo: PTI

For the first time gross GST collection has crossed 1.5 lakh crore mark. Photo: PTI

The gross GST revenue collected in the month of April, 2022 touched 1,67,540 crore of which CGST is 33,159 crore, SGST is 41,793 crore, IGST is 81,939 crore (including 36,705 crore collected on import of goods) and cess is 10,649 crore (including 857 crore collected on import of goods).

Consequently, the gross GST collection in April 2022 hit all-time high and was 25,000 crore more than the previous month’s 1,42,095 crore, the next highest collection.

The government has settled 33,423 crore to CGST and 26,962 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2022 after regular settlement is 66,582 crore for CGST and 68,755 crore for the SGST.

The revenues for the month of April 2022 are 20 percent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 30 percent higher and the revenues from domestic transaction (including import of services) are 17 percent higher than the revenues from these sources during the same month last year.

For the first time gross GST collection has crossed 1.5 lakh crore mark. Total number of e-way bills generated in the month of March 2022 was 7.7 crore, which is 13 percent higher than 6.8 crore e-way bills generated in the month of February 2022, which reflects recovery of business activity at faster pace.

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GST collection spiked in the month of April

As a matter of fact, April also saw the highest ever tax collection in a single day i.e., on April 20 and highest collection during an hour, during 4 pm to 5 pm on that day. On that day, 57,847 crore was paid through 9.58 lakh transactions and during that hour, nearly 8,000 crore was paid through 88,000 transactions.

During April 2022, 1.06 crore GST returns in GSTR-3B were filed, of which 97 lakh pertained to the month of March 2022, as compared to total 92 lakh returns filed during April 2021. Similarly, during April 2022, 1.05 crore statements of invoices issued in GSTR-1 were filed. 

Union Finance Minister Nirmala Sitharaman hinted at the economic recovery of India as a likely outcome of higher tax collection.  

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.

 

First Published: 02 May 2022, 07:53 AM IST