GST Gross Revenue Collection | January 2022

Ministry of Finance has released the data of gross GST revenue collection for the month of January on 31st of January. The gross GST revenue collected in the month of January 2022 is ₹ 1,38,394 crore of which CGST is ₹ 24,674 crore, SGST is ₹ 32,016 crore, IGST is ₹ 72,030 crore (including ₹ 35,181 crore collected on import of goods) and Cess is ₹ 9,674 crore (including ₹ 517 crore collected on import of goods).

The government has settled ₹ 29,726 crore to CGST and ₹ 24,180 crore to SGST from IGST as regular settlement. In addition, Centre has also settled ₹ 35,000 crore of IGST on ad-hoc basis in the ratio of 50:50 between Centre and States/UTs in this month. The total revenue of Centre and the States in the month of January 2022 after regular and ad-hoc settlements is ₹ 71,900 crore for CGST and ₹ 73,696 crore for the SGST. Centre also released GST compensation ₹ 18,000 crore in January’2022 to States/UTs.

The revenues for the month of January 2022 are 15% higher than the GST revenues in the same month last year and 25% higher than the GST revenues in January 2020. During the month, revenues from import of goods was 26% higher and the revenues from domestic transaction (including import of services) are 12% higher than the revenues from these sources during the same month last year.




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