GST Revenue: Government’s Vault Filled With GST In April

GST Revenue: Government’s vault filled with GST in April, broke all records, highest Rs 1.68 lakh crore.

The Gross GST Revenue for the month of April, 2022 stood at Rs 1,67,540 crore, which includes CGST 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 (of goods). 857 crore collected on imports).

This information has been given in the press release issued by the Ministry of Finance. “The gross GST collection in April 2022 is the highest ever collection, which is Rs 25,000 crore more than the highest ever collection of Rs 1,42,095 crore (for the month of March),” the ministry said.

The ministry informed that the government has settled Rs 33,423 crore CGST and Rs 26962 crore SGST from IGST.

The total revenue of the Center and the states in the month of April 2022 after the regular settlement is Rs 66,582 crore as CGST and Rs 68,755 crore as SGST.

The revenue for the month of April 2022 is 20% more than the GST revenue in the corresponding month of last year.

During the month, revenue from import of goods was 30% higher and revenue from domestic transactions (including import of services) was higher by 17% as compared to revenue from these sources during the corresponding month of the previous year.

The ministry said that for the first time, the gross GST collection has crossed the Rs 1.5 lakh crore mark.

A total of 7.7 crore e-way bills were generated in the month of March 2022, which is 13% higher than the 68 crore e-way bills generated in the month of February 2022.

It shows a fast pace in business activity. Along with this, the ministry informed that in the month of April 2022, the highest ever tax collection in a single day came on 20 April 2022.

On the same day, the highest collection came during an hour from 4 PM to 5 PM.

The ministry informed that on April 20, 2022, a payment of Rs 57,847 crore was received through 9.58 lakh transactions, and during 4 to 5 hrs, a payment of about Rs 8,000 crore was received through 88,000 transactions.