Home GST Gross GST Collection of Rs.14.97 lakh crore during April to December 2023

Gross GST Collection of Rs.14.97 lakh crore during April to December 2023

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Gross GST Collection of Rs.14.97 lakh crore during April to December 2023

Gross GST Assortment of Rs.14.97 lakh crore throughout April to December 2023

Gross GST assortment elevated by 12% 12 months on 12 months within the April-December 2023 interval, hitting 14.97 lakh crore, up from 13.40 lakh crore in the identical interval the earlier 12 months (April-December 2022).

The typical month-to-month gross GST assortment of 1.66 lakh crore within the first 9 months of the present 12 months is a 12% enhance over the 1.49 lakh crore common reported in the same interval of FY23.

Within the month of December 2023, the gross GST income collected is Rs.1,64,882 crore, of which CGST is Rs.30,443 crore, SGST is Rs.37,935 crore, IGST is Rs.84,255 crore (together with Rs.41,534 crore collected on import of products), and cess is Rs.12,249 crore (together with Rs.1,079 crore collected on import of products). Notably, that is the fifth month this 12 months by which collections have exceeded Rs.1.60 lakh crore.

From IGST, the federal government has settled Rs.40,057 crore to CGST and Rs.33,652 crore to SGST. After regular settlement, the entire income of the Centre and the States in December 2023 is Rs.70,501 crore for CGST and Rs.71,587 crore for SGST.

The income for December 2023 is 10.3% better than the income for a similar month final 12 months. Home transaction revenues (together with service imports) have been 13% larger in the course of the month than throughout the identical month final 12 months.

The chart under exhibits developments in month-to-month gross GST revenues in the course of the present 12 months. Desk-1 exhibits the state-wise figures of GST collected in every State in the course of the month of December 2023 as in comparison with December 2022.

Desk-2 exhibits the state-wise figures of post-settlement GST income of every State until the month of December 2023.

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