04.28.22

GST collections hit an all-time high of ₹ 1.42 lakh crore in March 2022

In March 2022, the goods and services tax (GST) revenue collected was ₹1.42 lakh crore ($18.93Bn), the highest amount since the new taxation system was implemented in India. Ministry of finance said in a statement that GST revenues for March 2022 are 15% higher than the same month last year and 46% higher than March 2020. These results show how powerful Continuous Transaction Controls (CTC) can be from a tax collection perspective.

Together with economic recovery, anti-evasion activities, especially action against fake billers have contributed to the enhanced GST, said the government.