GST kitty hits new monthly record, tops ₹1.42L crore in March

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NEW DELHI: GST collections during March hit a new monthly record, topping Rs 1. 42 lakh crore, driven by a sharp rise in collections on imports. “The revenues for the month of March 2022 are15% higher than the GST revenues in the same month last year and 46% higher than the GST revenues in March 2020.
During the month, revenues from import of goods was 25% higher and revenues from domestic transaction (including import of services) are 11% higher than revenues from these sources during the same month last year,” the finance ministry said in a statement. During 2021-22, annual growth was estimated to have grown 30. 5%, which came on the back of a 7% decline in the previous year on account of the national lockdown and the impact of Covid-19 on overall economic activity.

BJP (1)

“The latest highest ever tax collections recorded in GST, clearly indicate the growth potential of the domestic…

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