January 31, 2022
CGST was documented at ₹24,674 crore, SGST at ₹32,016 crore and IGST at ₹72,030 crore.
E-way bill generation grew by 14% between November 2021 (5.8 crore) and December 2021 (6.7 crore)
Revenue from imports increased by 26% and revenues from domestic transactions increased by 12% year-on-year.
The highest monthly GST collection was documented during April 2021 at 1,39,708 crore.
Goods and Services Tax (GST) collections in January has crossed US$ 18.45 billion (Rs 1.38-lakh crore), marking a 25% year-on-year increase and a 15% increase from the previous quarter, according to the Finance Ministry A total of 1.05 crore GSTR-3B returns have been filed as of January 30th in addition to 36 lakh quarterly returns. The collection amount has been demarcated into US$ 3.29 billion (Rs 24,674 crore) worth of CGST, US$ 4.28 billion (Rs 32,016 crore) worth of SGST and US$ 9.630 billion (Rs 72,030 crore) worth of IGST. The Ministry of Finance noted a 14% increase in the generation of e-way bills in December 2021 as against November 2021 at US$ 895,790 (6.7 crore) and US$ 775,460 (5.8 crore) respectively. Revenues from domestic transactions increased by 12% year-on-year and revenue from the import of goods increased by 26% year-on-year.
The improvement in GST collection has been attributed to an increase in rate rationalization measures, anti-evasion activity as well as an improvement in economic activity. The correction of the inverted duty structure and increased tax collection are also expected to further revenue inflows in the months to come. The Ministry also said that the highest monthly GST collection was during April 2021 at US$ 18.67 billion (Rs 1,39,708 crore).