India sees all-time high GST collection worth ₹1.42 lakh crore in March

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

The gross GST revenue collected in March 2022 is ₹1,42,095 crore, of which CGST is ₹25,830 crore, SGST is ₹32,378 crore, IGST is ₹74,470 crore (including ₹39,131 crore collected on import of goods) and cess is ₹9,417 crore (including ₹981 crore collected on import of goods).

The gross GST collection in March 2022 is all-time high, breaching an earlier record of ₹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.