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GST revenues at all-time high in April
GST revenues at all-time high in April
The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Union Finance Ministry said on Sunday.
New Delhi: The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Union Finance Ministry said on Sunday.
During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakhs pertained to March 2022.
The gross GST revenue collected in April is Rs 1,67,540 crore, of which CGST is 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 ministry said. The gross GST collection in April 2022 is an all-time high and Rs 25,000 crore more than the previous highest collection of Rs 1.42 lakh crore recorded in March. In April last year, the mop-up from Goods and Services Tax (GST) was about Rs 1.40 lakh crore.
Giving comparable data of April GST return filing, the ministry said there is a "clear improvement in the compliance behaviour, which has been a result of various measures taken by the tax administration to nudge taxpayers to file returns timely, to making compliance easier and strict enforcement action was taken against errant taxpayers identified based on data analytics and artificial intelligence".
During the month, revenues from import of goods were 30 per cent higher and the revenues from the domestic transaction (including import of services) are 17 per cent more than the revenues from these sources during the same month last year. The total number of e-way bills generated in March 2022 was 7.7 crore, which is 13 per cent higher than 6.8 crore in February 2022, which reflects the recovery of business activity at a faster pace, the ministry said. In April 2022, 84.7 per cent of registered businesses paid taxes by filing GSTR-3B, compared to 78.3 per cent in the year-ago period.
