The ever-increasing inflation is increasing the troubles of the common people, on the other hand, it is filling the government's treasury. Besides easing tax compliance, inflation is one of the reasons why the government earned a record Rs 1,67,540 crore from GST in April.
According to the data, in the month when inflation is high, the GST collection also increases in that month. In March 2022, when the GST collection was a record 1.42 lakh crore, the wholesale inflation reached 14.55% per month. Retail inflation also touched a 17-month high of 6.95 percent.
The month in which inflation is high, GST collection is also high
Wholesale inflation stood at 14.55% in March
Retail inflation had reached a 17-month high
Highest recovery in top-10 states
state April hike
Maharashtra 27,495 25 percent
Karnataka 11,820 19 percent
Gujarat 11,264 17 percent
Tamil Nadu 9,724 10 percent
Uttar Pradesh 8,534 16 percent
Haryana 8,197 23 percent
Delhi 5,871 16 per cent
Telangana 4,955 16 percent
Odisha 4,910 28 percent
(figures in crores of rupees)
10,649 crore raised from cess
The share of Central GST (CGST) in the total GST collection for April stood at Rs 33,159 crore. State GST (SGST) contributed Rs 41,793 crore and Integrated GST (IGST) contributed Rs 81,939 crore. 36,705 crore in IGST was raised from imports of goods. Of this, the share of cess stood at Rs 10,649 crore.
1.06 crore returns filed
In April, 1.06 crore GST returns were filed in GSTR-3B. Of these, 97 lakh returns are for March 2022. In April 2022, 84.7 percent of the registered companies or entities filed GSTR-3B. In the same month a year ago, this figure was 78.3 percent.
High prices hit on the sale of petrol and diesel
The growth in sales of petrol and diesel in the country in April 2022 was moderate every month. The consumption of domestic cooking gas LPG has also come down. Demand has been hit with fuel prices hitting record-high levels. According to preliminary data from the petroleum industry, state-owned petroleum companies sold 2.58 million tonnes of petrol in April, a growth of just 2.1 percent over March this year. Diesel sales stood at 66.9 lakh tonnes, which is 0.3% higher than in March. LPG consumption declined by 9.1% to 22 lakh tonnes as compared to March.
The number of new corona patients in the country is fluctuating daily. On Saturday, 20,408 new co
The Central Government has intensified preparations for the 'Har Ghar Tiranga' campaign on the 75
The no money for terror (NMFT) conference is being organized in Delhi today to stop terror fundin
Violence continues unabated in Manipur. On the night of June 6, there was an exchange of fire bet
BKU President Naresh Tikait, who came to the Kisan Panchayat at Urja Bhawan in Meerut, said that
Central Board of Secondary Education/CBSE has released the admit card for class X and class XII c
More than 200 air travelers found corona infected: Health Minister Mansukh Mandaviya
Union Health Minister Mansukh Mandaviya said on Wednesday that during random sampling at internat
In the northeastern state of Manipur, the process of violence between caste conflicts is not taki
Canadian Prime Minister Justin Trudeau has announced his resignation from his post. Not only in C
Australia defeated Pakistan in the second Test and took a 2-0 lead in the three-match Test series
