CHENNAI: GST collections continue to break new records with monthly mop-up breaching Rs 1.5 lakh crore for the first time ever in almost five years. The government in April 2022 collected the highest ever GST revenue of Rs 1,67,540 crore, which is 20% more than the collection in the same month last year.
The previous highest collection was recorded in March 2022, when the government received Rs 1,42,095 crore.
Of the Rs 1,67,540 crore, Central GST is Rs 33,159 crore, State GST is Rs 41,793 crore, Integrated GST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and compensation cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods).
The government has settled Rs 33,423 crore to CGST and Rs 26962 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2022 after the regular settlement is Rs 66,582 crore for CGST and Rs 68,755 crore for the SGST.
During the month, revenues from import of goods were 30% higher and the revenues from the domestic transaction (including import of services) are 17% higher than the revenues from these sources during the same month last year.
According to a statement issued by the ministry of finance, April 2022 saw the highest ever tax collection in a single day on 20th April 2022 and the highest collection during an hour, from 4 PM to 5 PM on that day. On 20 April 2022, Rs 57,847 crore was paid through 9.58 lakh transactions and during 4-5 PM, almost Rs 8,000 crore was paid through 88,000 transactions.
The highest single-day payment last year (on the same date) was Rs 48,000 crore through 7.22 lakh transactions and the highest one-hour collection (2 PM -3 PM on the same date last year) was Rs 6,400 crore through 65,000 transactions.
During the month, 1.06 crore GST returns in GSTR-3B were filed, of which 97 lakh pertained to the month of March 2022, as compared to the total of 92 lakh returns filed during April 2021.