Goods and services tax (GST) collections have a gross profit of Rs. 1.42,095 crore in March, a record high, breaking the previous record of Rs. Raised 1.40.986 crore in January 2022, the Ministry of Finance said Friday.
The gross GST revenue collected in March 2022 was Rs 1,42,095 crore, of which CGST (Central Goods and Services Tax) was Rs 25,830 crore, SGST (State Goods and Services Tax) was Rs 32,378 crore, IGST (Integrated Goods and Services Tax) ) was Rs 74,470 crore (including Rs 39,131 crore collected on importation of goods), and cess was Rs 9,417 crore (including Rs 981 crore collected upon importation of goods).
Revenues for March 2022 are 15 percent higher than GST revenues in the same month last year.
“The improvement in revenues is also due to several rate rationalization measures taken by the Council to correct the reverse tax structure,” the ministry said.