BBN Bureau
NEW DELHI/April 01-2022: Goods and services tax (GST) collections reached an all-time high of Rs1.42 lakh crore (Rs1.42 trillion) in March, dwarfing the earlier record of Rs1.41 lakh crore achieved in January, said the Finance Ministry notification on Friday (April 1).
The gross GST revenue collected in March 2022 was Rs1,42,095 crore, of which CGST (Central Goods and Services Tax) was Rs25,830 crore, SGST (State Goods and Services Tax) was Rs32,378 crore, IGST (Integrated Goods and Services Tax) was Rs74,470 crore (including Rs39,131 crore collected on import of goods), whereas the cess was to the tune of Rs9,417 crore (including Rs981 crore collected on import of goods).
The revenue for March 2022 was 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.
