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Business EconomyPosted at: May 1 2022 1:35PM


GST collection in April soars to all-time high, GSTR-3B returns cross 1 crore-mark

New Delhi, May 1 (UNI) The goods and services tax (GST) collection reached all-time high of Rs 1.68 lakh crore in April, 2022 on higher compliance and growing pace of economic recovery.

"The gross GST revenue collected in the month of April, 2022 is Rs 1,67,540 crore of which CGST is Rs 33,159 crore, SGST is Rs 41,793 crore, IGST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods)," said Finance Ministry in a statement.

"The gross GST collection in April 2022 is all time high, Rs 25,000 crore more than the next highest collection of Rs 1,42,095 crore, just last month," it further said.

The GST collection for the month of April is 20% higher than the GST revenues in the same month last year.

In what shows broad-based economic recovery, most industrialised states such as Maharashtra, Karnataka, Tamil Nadu and Gujarat reported significant increase in GST collection. It also shows sectors across the spectrum have made strong rebound.

The GST collection in Maharashtra during April, 2022 was Rs 27,495 crore, up 25% compared to Rs 22,013 crore in the same month last year. Karnataka reported 19% year-on-year jump in GST collection during April.

The official data also pointed to growing tax compliance by trade and businesses. During April, 1.06 crore GST returns in GSTR-3B were filed of which 97 lakh pertained to the month of March 2022, as compared to total 92 lakh returns filed during April 2021.

Similarly, 1.05 crore statements of invoices issued in GSTR-1 were filed.

"Till end of the month, the filing percentage for GSTR-3B in April 2022 was 84.7% as compared to 78.3% in April 2021 and the filing percentage for GSTR-1 in April 2022 was 83.11% as compared to 73.9% in April 2021," said Finance Ministry.

The total number of e-way bills generated in the month of March 2022 was 7.7 crore, which is 13% higher than 6.8 crore e-way bills generated in the month of February 2022, reflecting recovery of business activity at faster pace.
The GST collection has been growing consistently month after month.

UNI NK
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Tags: #GST collection in April soars to all-time high# GSTR-3B returns cross 1 crore-mark
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