GST revenue collection for April 2022 at all-time high

The gross GST revenue collected in April 2022 was recorded at its all-time high at Rs 1,67,540 crore, Rs 25,000 crore more than the next highest collection of Rs 1,42,095 crore in March 2022. When compared to the same period last year, the revenues are 20 per cent higher.

Out of this the Central Goods and Services Tax (CGST) stands at Rs 33,159 crore, State Goods and Services Tax (SGST) is at Rs 41,793 crore, Integrated Goods and Services Tax (IGST) is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and the cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods), reveals the Ministry of Finance in a PIB report.

The report further added that the government has already settled Rs 33,423 crore to CGST and Rs 26,962 crore to SGST from IGST. Centre and the States’ total revenue in April 2022, after regular settlement, stands at Rs 66,582 crore for CGST and Rs 68,755 crore for the SGST.

The gross GST collection has crossed the Rs 1.5 lakh crore mark for the first time, it added.

The total number of e-way bills generated in March 2022 was 7.7 crore, around 13 per cent higher than 6.8 crore e-way bills generated in February 2022. This also reflects that the recovery of business activity in the country is running at a faster pace.

Interestingly, April 2022 also saw the highest ever tax collection in a single day — Rs 57,847 crore paid through 9.58 lakh transactions on 20th April 2022. In addition to this, from 4 PM to 5 PM on 20th April 2022, almost Rs 8,000 crore was paid through 88,000 transactions, the PIB report revealed.

Nearly 1.06 crore GST returns in GSTR-3B were filed in April 2022, of which 97 lakh pertained to March 2022. Similarly, 1.05 crore statements of invoices were also issued in GSTR-1 filed during April 2022.

While the filing percentage for GSTR-3B in April 2022 was 84.7 per cent as compared to 78.3 per cent in April 2021, the filing percentage for GSTR-1 in April 2022 was 83.11 per cent as compared to 73.9 per cent in April 2021, the report added.