Record GST collection at Rs 1.68 lakh crore in April 2022

May 1 (BW) India recorded its highest ever GST revenue collection of Rs 1,67,540 crore in April 2022, the Ministry of Finance said in a statement. It is Rs 25,000 crore more than the next highest collection of Rs 1,42,095 crore, just last month.

The amount includes CGST of Rs 33,159 crore, SGST Rs 41,793 crore, IGST Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess Rs 10,649 crore (including Rs 857 crore collected on import of goods).

The government has settled Rs 33,423 crore to CGST and Rs 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 Rs 66,582 crore for CGST and Rs 68,755 crore for the SGST, the ministry said.

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

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

(Reporting by Manish Gupta in Ranchi)