GST Collection Data 2022: The GST collection data set a new record in March as well. This shows the spurt in economic activity with the weakening of the third wave of Kovid.
With the weakening of the third wave of Kovid-19, economic activities in India seem to be getting back on track. The data for the month of March of GST collection is pointing towards this.
According to the data released by the Finance Ministry on Friday, the GST collection in the month of March increased to Rs 1.42 lakh crore.
46% more collection than in 2020
The ministry has said that the data of GST collection for March 2022 shows an increase of 15 percent in GST collection as compared to the month of March last year. At the same time, it shows a jump of 46 percent in GST collection as compared to March 2020. The Finance Ministry has said, “Gross GST collection reached a new high in March 2022 and surpassed the earlier record of Rs 1,40,986 crore in January 2022.”
Know the source of the collection
Gross GST collection stood at Rs 1,42,095 crore in March 2022. These include Rs 25,830 crore to the government through CGST, Rs 32,378 crore through SGST, Rs 74,470 crore through IGST (including income of Rs 39,131 crore from import of goods) and Rs 9,417 crore as cess (import of goods). 981 crore income from Rs.
Best collection in the fourth quarter
The average monthly gross GST collection in the fourth quarter of the financial year 2021-22 stood at Rs 1.38 lakh crore. The average stood at Rs 1.10 lakh crore in the first quarter, Rs 1.15 lakh crore in the second quarter and Rs 1.30 lakh crore in the third quarter.
This is how the settlement happened
In the month of March, the government has settled Rs 29,816 crore in CGST and Rs 25,032 crore out of IGST. After regular and ad-hoc settlement, the total income of the Center in March 2022 was Rs 65,646 crore and the total income of the state was Rs 67,410 crore.
The ministry has said, “Economic recovery and action taken to check evasion, especially against fake billers, has led to an increase in GST collections. Several steps taken by the Council to rationalize the inverted duty structure are There has been an improvement in revenue.Live TV
