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Press Release

Date: November 29, 2021
Subject: GST Collections Show Strong Recovery with Steady Upward Trend in FY 2021–22
Description:

The Ministry of Finance informed that gross Goods and Services Tax (GST) collections in FY 2021–22 have shown a clear and sustained upward trend following the disruption caused by the COVID-19 pandemic. This information was shared by the Union Minister of State for Finance, Shri Pankaj Chaudhary, in a written reply to a question in the Lok Sabha. The data presented in the press release shows a sharp improvement in monthly GST collections from April 2021 onwards, with revenues rising from ₹1.39 lakh crore in April to ₹1.30 lakh crore in October 2021, significantly higher than the corresponding figures in FY 2020–21. The steady growth in collections reflects revival in economic activity and improved compliance. The release also highlighted strong performance in direct tax collections during the same period, with gross direct tax collections up by over 48 percent year-on-year as of 23 November 2021. In addition, the press release explained the functioning of the GST Compensation Fund and the steps taken by the Centre to address compensation shortfalls during the pandemic through back-to-back loans to States. Overall, the data underscores the resilience of the GST system, the effectiveness of compliance and enforcement measures, and the gradual strengthening of government revenues during FY 2021–22.

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