GST Collection April 2022: Collection of GST revenue hits a record Rs 1.68 crore in April

Goods and services tax collections (GST) hit an all-time high above £1.68 lakhcrore in April, on the back of improving economic activity.

This comes after the second highest collection of ₹1.42 lakh crore reported in March 2022.

April’s collection is ₹25,000 crore higher than March’s.

GST Collections

Gross GST collected in April is 1,67,540 crore, of which CGST is 33,159 crore, SGST is 41,793 crore, IGST is 81,939 crore and cess is 10,649 crore.

Earnings for the month of April 2022 are 20% higher than GST earnings for the same month last year. This month, revenue from imported goods increased by 30% and revenue from domestic transactions increased by 17%.

It was the first time gross GST collection exceeded the ₹1.5 lakh crore mark.

The highest tax collection during the month was observed on April 20, 2022.

In a statement, the Treasury Department said there has been a “significant improvement in compliance behavior, which has been a result of various actions by the tax administration to encourage taxpayers to submit tax returns on time, ease of compliance and tougher enforcement actions against misguided taxpayers.” identified on the basis of data analysis and artificial intelligence”.

Leave a Reply

Your email address will not be published.