GST mop-up at record Rs 1.68 lakh cr in April
Indirect tax revenues cross Rs1.5-lakh cr mark for 1st time and continue above Rs1 lakh crore mark for 10th month in a row on improved compliance, recovery in biz activity adding to indirect tax revenue
New Delhi: The GST collection in April touched the highest ever level of about Rs1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry said on Sunday. The gross GST collection crossed the Rs 1.5 lakh crore-mark for the first time in April 2022 and Rs1 lakh crore-mark for the 10th month in a row.
During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakh pertained to March 2022. The gross GST revenue collected in April is Rs1,67,540 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. Also, 83.11 per cent of GST registered businesses have filed supply or sales return GSTR-1, compared to 73.9 per cent a year ago.