NewDelhi Apr 2 : GST collections soared to an all-time high of Rs 1.42 lakh crore in March as the fiscal year-end frenzy to meet targets saw strong sales and crackdown on evasions brought in more taxes. The Goods and Services Tax (GST) collection rose 15 percent annually in March, the finance ministry said on Friday.
With the record collection, the Centre’s GST mop-up has exceeded the revised budget target of Rs 5.70 lakh crore set for the previous fiscal ended March 31, 2022. The previous high for collection of revenues from goods sold and services rendered was in January 2022 at over Rs 1.40 lakh crore.