All time high GST Collection of Fy 2021-22

All time high GST collection

Gross GST Collection in March touch an all-time high of over Rs 1.42 lakh crore, the Finance Ministry said on Friday.

The Gross GST revenue collected in March 2022 is Rs 1,42,095 crore, of which CGST is Rs 25,830 crore, SGST is Rs 32,378 crore, IGST is Rs 74,470 crore Including Rs 39,131 crore collected on Import of goods and cess is Rs 9,417 crore (including Rs 981 crore collected on import of goods).

The gross GST collection in March 2022 is all time high, breaching an earlier record of Rs 1,40,986 crore collected in January.

The revenues for march 2022 are 15 percent highest than the GST revenues in the same month last year.

The improvement in revenue has also been die to various rate rationalisation measures undertaken by the council to correct inverted duty structure, the ministry said in a statement.

IRCON IPO subscribed over 9.5 times; IPO to bring Rs 466 crore revenue to the Government

The Initial Public Offering (IPO) of CPSE IRCON has been subscribed 9.5 times. In the IRCON IPO, the Government is selling 10.5 percent stake or about 99.05 lakh equity shares, including 5 lakh shares to employees. The Government is expected to raise Rs 466 crore from the issue. The issue received bids for 9.4 crore shares against the issue size of 99.05 lakh shares worth Rs 466 Crore.  The segment meant for Qualified Institutional Buyers (QIBs) was subscribed 12 times, Non-Institutional Investors 4.9 times, while the Retail Investors Segment was subscribed over 9 times. Price band for the issue has been fixed at Rs 470-475 per share, with a discount of Rs 10 for Retails Investors and Employees.

IRCON is the second CPSE to launch an IPO in the Current Fiscal besides being the second Railway CPSE to be listed on the stock markets after RITES in June this year. (Source – PIB)