All-Time High Gross GST Collections In March, Says Finance Ministry
Goods and services tax (GST) collections have grossed Rs. 1,42,095 crore in March, an all-time high, breaching the earlier record of Rs. 1,40,986 crore collected in January 2022, said the finance ministry on Friday.Â
The gross GST revenue collected in March 2022 was Rs 1,42,095 crore, of which CGST (Central Goods and Services Tax) was Rs 25,830 crore, SGST (State Goods and Services Tax) was Rs 32,378 crore, IGST (Integrated Goods and Services Tax) was Rs 74,470 crore (including Rs 39,131 crore collected on import of goods), and cess was Rs 9,417 crore (including Rs 981 crore collected on import of goods).
The revenues for March 2022 are 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.
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