At Rs 1.68 lakh crore, GST collection scales to all-time high in April 2022

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, according to a statement by the Finance Ministry on May 1.

The gross GST collection in April mark a consecutive month-on-month (MoM) surge as a record-high amount of Rs 1.42 lakh crore was collected in March. The gross collection in April is Rs 25,000 crore more than the collection in March.

Earlier last month, CNBC TV-18 had reported citing sources in the Finance Ministry that GST collection in April is likely to peak to another all-time high of Rs 1.45-1.50 lakh crore.

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.

The Finance Ministry attributed the rise in GST collections to the ongoing economic recovery along with anti-evasion activities and the various rate rationalisation measures undertaken by the GST Council to correct inverted duty structures.