GST assortment at all-time excessive of Rs 1.42 lakh crore in March

Gross GST assortment in March touched an all-time excessive of over Rs 1.42 lakh crore, the Finance Ministry stated on Friday.

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

The gross GST assortment in March 2022 is all-time excessive, breaching an earlier file of Rs 1,40,986 crore collected in January.

The revenues for March 2022 are 15 per cent increased than the GST revenues in the identical month final 12 months.

“The improvement in revenue has also been due to various rate rationalisation measures undertaken by the Council to correct inverted duty structure,” the ministry stated in a press release.