Goods and services tax (GST) collections exceeded Rs 1.38 lakh crore in January, up 15 percent from the same period a year ago.
The total number of GSTR-3B returns filed until January 30, 2022 is 1.05 crore, including 36 lakh quarterly returns, the Ministry of Finance said.
January is the fourth month in a row in which the GST collection has surpassed Rs 1.30 lakh crore.
“The gross GST earnings collected in the month of January 2022 until 3:00 PM on 31.01.2022 is Rs 1,38394 crore of which CGST is Rs 24,674 crore, SGST is Rs 32,016 crore, IGST is Rs 72,030 crore (including Rs 35,181 crore collected on imports of goods) and the cess is Rs 9,674 crore (including Rs 517 crore collected on imports of goods),’ the ministry said.
The highest monthly GST collection was Rs 1,39,708 crore in the month of April 2021. The revenue for the month of January 2022 is 15 per cent higher than the GST revenue in the same month last year and 25 per cent higher than the GST revenue in January 2020 .
“Combined with economic recovery, anti-evasion activities, in particular measures against counterfeit account holders, have contributed to the increased GST. The revenue improvement is also due to several rate rationalization measures taken by the Council to correct the reverse tax structure,” the ministry said. said.
The positive trend in revenues is expected to continue in the coming months.