GST collection tops Rs 1.38 lakh crore in January

GST collection crossed Rs 1.38 lakh crore in January, a growth of 15 per cent over the year-ago period. Total number of GSTR-3B returns filed up to January 30, 2022 is 1.05 crore that includes 36 lakh quarterly returns, the Finance Ministry said.January is the fourth straight month when Goods and Services Tax collection has crossed Rs 1.30 lakh crore. "The gross GST revenue collected in the month of January 2022 till 3 PM on 31.01.2022 is Rs 1,38,394 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 import of goods) and cess is Rs 9,674 crore (including Rs 517 crore collected on import of goods)," the ministry said.
The highest monthly GST collection has been Rs 1,39,708 crore in the month of April 2021.The revenues for the month of January 2022 are 15 per cent higher than the GST revenues in the same month last year and 25 per cent higher than the GST revenues in January 2020. "Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The improvement in revenue has also been due to various rate rationalisation measures undertaken by the Council to correct inverted duty structure," the ministry said. It is expected that the positive trend in the revenues will continue in the coming months as well, it added.