Home Business GST Collections For March Touch All-Time High Of Rs 1.67 Lakh Crore

GST Collections For March Touch All-Time High Of Rs 1.67 Lakh Crore

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The government’s goods and service tax revenue collection for March, collected in April stood at Rs 1.67 lakh crore, surpassing all previous records.

In its statement on Sunday the Finance Ministry attributed the buoyant collections to better compliance and measures by the tax administration. “… it is a result of various measures taken by the tax administration to nudge taxpayers to file returns timely, to make compliance easier and smoother and strict enforcement action taken against errant taxpayers identified based on data analytics and artificial intelligence,” the statement said.

The month’s revenue collections are Rs 25,000 crore higher than March’s collections which was touted as the highest ever at 1.42 lakh crore.

This is the first time the monthly collections have crossed the Rs 1.5 lakh crore mark.

Revenues for the month of April 2022 are 20% higher than the GST revenues in the same month last year. And revenues from import of goods was 30% higher, the statement added.

Total number of e-way bills generated in the month of March 2022 was 7.7 crore.

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