GST collection of Rs 1,38,394 crore for January 2022, a day before the budget released by the government


GST Collection: The government has released the GST collection figures for January 2022, a day before the presentation of the budget. hGross GST revenue collected for November 2022 was Rs 1,38,394 crore. This is the fourth time when the GST collection has crossed Rs 1.30 lakh crore.

The GST collection in December 2021 was Rs 1,29,780 crore. The total GST collection in November was 1.31 lakh crore. The revenue for the month of January 2022 has been 15% higher than the GST revenue in the corresponding month of last year. and posted 25% more than GST revenue in January 2020. The Gross GST Revenue in the month of January 2022 as on 31.01.2022 at 3 PM is Rs 1,38,394 crore, of which CGST is Rs 24,674 crore, SGST Rs 32,016 crore, IGST Rs 72,030 crore (including Rs 35,181 crore collected on imports). Let us tell you that the highest GST collection was seen in April 2021. In April 2021, Rs 1,39,708 crore GST was collected.

The Center also released GST compensation of Rs 18,000 crore to the States/UTs in January 2022. The revenue for the month of January 2022 is 15% more than the GST revenue in the corresponding month of last year and 25% more than the GST revenue in January 2020. During the month, revenue from import of goods was 26% higher and revenue from domestic transactions (including import of services) was higher by 12% as compared to revenue from these sources during the same month of the previous year.

This is the fourth time that the GST collection has crossed the Rs 1.30 lakh crore mark. 67 crore e-way bills were generated in December 2021, which is 14% higher than the 5.8 crore e-way bills generated in November 2021. Economic reforms, especially action against fake billers are contributing to the increase in GST. It is expected that the positive trend in revenue will continue in the coming months as well.

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