GST Collection Touched The Highest Ever Level In March
GST Collection touched the highest ever level in March, the collection stood at Rs 1.42 lakh crore.
GST collection in March touched an all-time high of Rs 1.42 lakh crore.
The gross GST revenue collected in March 2022 is Rs 1,42,095 crore, of which 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.
The Finance Ministry gave this information on Friday. The Gross GST collection in March 2022 is all-time. This has broken the earlier record of Rs 1,40,986 crore collected in January.
The revenue for March 2022 is 15 percent higher than the GST revenue in the corresponding month last year.
The improvement in revenue is also due to various rate rationalization measures undertaken by the Council to fix the inverted duty structure, the ministry said in a statement.
During March, revenue from imports of goods grew 25 percent year-on-year and receipts from domestic transactions (including imports of services) grew 11 percent year on year.
The total number of e-Way Bills generated in the month of February 2022 is 6.91 crores, which despite being a shorter month showed an increase as compared to the number of e-Way Bills (6.88 crores) generated in the month of January 2022.
State-wise, Maharashtra has the highest GST collection at Rs 20,305 crore, followed by Gujarat (Rs 9,158 crore), and Karnataka (Rs 8,750 crore), Tamil Nadu (Rs 8,023 crore), Haryana (Rs 6,654 crore), and Uttar Pradesh (Rs 6,620 crore).
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