New Delhi: The Goods and Services Tax (GST) revenue has touched an all-time high in last month. The revenue for March 2022 is 15% higher than the GST revenues in the same month last year.
As per the data released by the Union Finance Ministry, the GST collection in March has crossed Rs 1,42,095 crore. It breached an earlier record of Rs 1,40,986 crore collected in January. This is sixth month in a row the GST revenue is crossing Rs 1.30 lakh crore in this fiscal year.
Also Read: Indian Railway cancels 92 trains: Full list
Of the total revenue, the CGST is Rs 25,830 crore, SGST is Rs 32,378 crore, IGST is Rs 74,470 crore (including Rs 39,131 crore collected on import of goods) and cess is Rs 9,417 crore (including Rs 981 crore collected on import of goods). CGST refers to Central Goods and Services Tax, SGST (State Goods and Services Tax) and IGST (Integrated Goods and Services Tax).
The ministry informed that it settled Rs 29,816 crore to CGST and Rs 25,032 crore to SGST from IGST as regular settlement. In addition, Centre has also settled Rs 20,000 crore of IGST on ad-hoc basis in the ratio of 50:50 between Centre and states/UTs in March.
? All time high Gross #GSTCollection in March 2022, breaching earlier record of ?1,40,986 crore collected in January 2022
? ?1,42,095 crore gross #GST revenue collected in the month
Read more ?? https://t.co/WVBKPBkmTO
(1/2) pic.twitter.com/ywPJxQfElw— Ministry of Finance (@FinMinIndia) April 1, 2022
Post Your Comments