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The largest ever GST collection was recorded in March, which is very good news for the economy. GST revenue reached a record high of Rs 1,42,095 crore in January 2022, beating the previous high of Rs 1,40,986 crore. Sales in March 2022 are 15% more than the same month the previous year and 46% higher than March 2020 revenues. In comparison to the same month previous year, revenue from product imports climbed by 25%, while revenue from domestic transactions (including service imports) increased by 11%.

In March 2022, gross GST income was Rs 1,42,095 crore, with national GST at Rs 25,830 crore, state GST at Rs 32,378 crore, integrated GST at Rs 74,470 crore, including Rs 39,131 crore in goods imports, and cess at Rs 9,417 crore, including Rs 981 crore in goods imports. According to official data, the government has settled the IGST by paying Rs 29,816 crore to the CGST and Rs 25,032 crore to the SGST. This month, the Centre settled an ad hoc IGST bill of Rs 20,000 crore, split 50:50 between the Centre and the states/Union Territories.

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