GST collection soars to Rs 1.68 lakh crore
By MYBRANDBOOK
The monthly collection under the Goods and Services Tax (GST) has peaked to an all-time high of Rs 1.68 lakh crore in April 2022. The GST collection in April was Rs 25,000 crore more than the collection in March.
The gross GST revenue collected April 2022 is Rs 1,67,540 crore, out of which CGST is Rs 33,159 crore, SGST is Rs 41,793 crore, IGST is Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess is Rs 10,649 crore (including Rs 857 crore collected on import of goods).
The gross GST collection has crossed the Rs 1.5 lakh crore-mark for the first time in April 2022 and Rs 1 lakh crore-mark for the tenth month in a row. The gross GST collection in April marks a consecutive month-on-month (MoM) surge as a record-high amount of Rs 1.42 lakh crore was collected in March.
The revenues for the month of April 2022 are 20% higher than the GST revenues in the same month last year. The total revenue of Centre and the States in the month of April 2022 after regular settlement was Rs 66,582 crore for CGST and Rs 68,755 crore for the SGST.
Experts said the rise could also be attributed to year-end activity, higher inflation rate, input tax credit being allowed only on timely compliance by vendors and high value of imports. For FY22 as a whole, total GST collections amounted to Rs 14.83 lakh crore, up 30 percent from Rs 11.37 lakh crore in FY21.
BREAKING NEWS
TECHNO TRENDS
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
UiPath ropes in Raghu Malpani as Chief Technology Officer
UiPath has announced Raghu Malpani as Chief Technology Officer. Malpani w
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
OPEN YOUR EYES
INTERVIEWS
Lenovo aims to solve customers' critical business needs throug
enovo recognizes the immense potential and the crucial role that technology
A few changes in policies can make the PLI scheme even more ef
The Production Linked Incentive (PLI) scheme is a government initiative tha
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
HAVELLS INDIA LTD.
QUICK HEAL TECHNOLOGIES PVT. Ltd.
LENOVO GROUP LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
Technology Icons Of India 2023: Ritesh Agarwal
Ritesh Agarwal Founder & CEO of OYO Hotels & Homes-World’s fastest g...
Technology Icons Of India 2023: Nikhil Rathi
Nikhil Rathi, Co-founder & CEO of Web Werks, a global leader in Data C...
PARTNER SPEAKERS
PSU
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
ITI Limited widening its focus area
ITI Limited is a public sector undertaking company, has manufacturing ...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
VIDEOS
Top 25 Brands
Value-Added Distribution
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
