Gross GST collection in June 2022 is the second-highest collection next to the April 2022 collection GST collection crosses ₹1.40 lakh crore mark 5th time since the inception of GST; 4th month at a stretch since March 2022
The total GST revenue collected in the month of June 2022 would be Rs 1,44,616 cr of which CGST would be Rs 25,306 cr, SGST is Rs 32,406 crore, IGST stands at Rs 75887 cr (along with Rs 40102 cr collected on the goods import and cess stood at Rs 11,018 crore (along with Rs 1197 crore collected on import of goods). The gross GST collection in June 2022 is the 2nd highest collection subsequent to the April 2022 GST collection of Rs 1,67,540 crore.
The is a settlement of Rs 29,588 crore to CGST and Rs 24,235 cr to SGST from IGST done by the government. Moreover, the center initiated a settlement of Rs 27,000 cr for IGST on the grounds of ad-hoc in the ration of 50:50 between the center and states/UTs in the same month. The total revenue of the center and the states in June 2022 post to regular and ad-hoc settlement would be Rs 68,394 crore for CGST and Rs 70,141 cr for the SGST.
There is a rise of 56% in the revenue towards June 2022 as compared to the GST revenues in the identical month former year of Rs 92,800 cr. in that month, the revenues made from the import of the goods stood 55% higher and the revenues made via domestic transaction along with the services of import would be 56% more as compared to the revenues incurred from these sources in the identical month of the former year.
This would be the 5th time the monthly GST collection has crossed the Rs 1.40 lakh cr mark since the GST started and the fourth month with stretch from March 2022. The June 2022 collection would be the 2nd highest along with that it also broke the trend of being a low collection month as seen in the former times. The total number of GST e-way bills made in the month of May 2022 stood at Rs 7.3 cr which would be 2% lower as compared to 7.4 cr e-way bills made in April 2022.
The average monthly total GST collection towards the first quarter of the Fiscal year 2022-23 would be stood at Rs 1.41 lakh cr as compared to the average monthly collection of Rs 1.10 lakh cr in the first quarter of the former fiscal year mentioning a rise of 37%. Integrated with the economic recovery, anti-evasion activities particularly the action with respect to the bogus billers contributed to the higher GST. The total cess collection in the same month would be the highest since the GST started.
The below chart specified the trend in the monthly total GST revenues from 2017-18. The table mentioned the state-wise GST figures collected in every state in June 2022 with respect to June 2021.
