GST collection at all-time high of Rs 1.42 lakh crore in March

Gross GST collection in March touched an all-time high of over Rs 1.42 lakh crore, the Finance Ministry said on Friday.

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 crore (including Rs 981 crore collected on import of goods).

The gross GST collection in March 2022 is all-time high, breaching an earlier record of Rs 1,40,986 crore collected in January.

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 in a statement.