Explained: GST collections up 44% y-o-y for April sales, why this is especially encouraging | Explained News,The Indian Express

Experts said that apart from improved economic activity, actions against tax evaders including efforts in audits and analytics helped push the growth in GST collections

Gross Goods and Services Tax (GST) collections rose 44 per cent year-on-year to Rs 1,40,885 crore in May (for sales in April), reflecting improved economic activity, enforcement actions and higher inflation, data released by the Finance Ministry showed.

GST collections had recorded the highest-ever level of Rs 1.68 lakh crore in the previous month for year-end sales. This is the fourth time that monthly GST collections have crossed the Rs 1.40 lakh crore mark since the inception of GST, and the third month in a row since March 2022. GST collections in May 2021 had stood at Rs 97,821 crore.

The broader trend

“The collection in the month of May, which pertains to the returns for April, the first month of the financial year, has always been less than that in April, which pertains to the returns for March, the closing of the financial year. However, it is encouraging to see that even in the month of May 2022, the gross GST revenues have crossed the Rs 1.40 lakh crore mark,” the Finance Ministry statement said. The total number of e-way bills generated in April 2022 were at 7.4 crore, 4 per cent less than 7.7 crore e-way bills generated in March 2022, it said.

Revenues from import of goods were 43 per cent higher and the revenues from domestic transactions (including import of services) were 44 per cent higher than the revenues from these sources during the same month last year.

https://indianexpress.com/article/explained/explained-gst-collections-up-april-sales-7947533/

---