Press Release
The Ministry of Finance reported sustained improvement in Goods and Services Tax (GST) collections, with the average monthly gross GST revenue for the third quarter of FY 2021–22 rising to ₹1.30 lakh crore, compared to ₹1.10 lakh crore in the first quarter and ₹1.15 lakh crore in the second quarter of the financial year. This marked a clear upward trend in tax buoyancy and economic recovery. The press release also highlighted a record-breaking GST collection of ₹1,40,986 crore in January 2022, the highest monthly collection since the introduction of GST. During the October–December 2021 period, monthly GST revenues remained consistently high, with collections of ₹1,30,127 crore in October, ₹1,31,526 crore in November, and ₹1,29,780 crore in December, despite a marginal dip in December. The strong performance was attributed to a combination of policy and administrative measures, including GST rate rationalisation, expansion of e-invoicing, mandatory electronic filing and payment of taxes, stricter penalties for delays, enhanced use of third-party data for compliance verification, and increased enforcement actions against tax evasion. The government expressed confidence that, supported by system-based analytics and improved taxpayer compliance, GST collections would remain buoyant in the coming months.
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