Home GST GST Income Assortment of Rs.1,61,497 Crore in June 2023; Development of 12% Yr on Yr

GST Income Assortment of Rs.1,61,497 Crore in June 2023; Development of 12% Yr on Yr

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GST Income Assortment of Rs.1,61,497 Crore in June 2023; Development of 12% Yr on Yr

GST Income Assortment of Rs.1,61,497 Crore in June 2023; Development of 12% Yr on Yr

The Finance Ministry has notified that because the implementation of GST, it’s for the fourth time when gross gst assortment has hit the Rs.1.6 Crore mark. The income collected had crossed break the report of Rs.1.50 lakh crore for the seventh time since GST got here into existence.

The gross GST income collected within the month of June, 2023 is Rs.1,61,497 crore of which CGST is Rs.31,013 crore, SGST is Rs.38,292 crore, IGST is Rs.80,292 crore (together with Rs.39,035 crore collected on import of products) and cess is Rs.11,900 crore (together with Rs.1,028 crore collected on import of products).

The federal government has settled Rs.36,224 crore to CGST and Rs.30269 crore to SGST from IGST. After regular settlement, the whole earnings of the Centre and the States within the month of June 2023 is Rs.67,237 crore for CGST and Rs.68,561 crore for SGST.

The revenues for the month of June 2023 are 12% greater than the GST revenues for a similar month final 12 months. Home transaction revenues (together with service imports) elevated by 18% through the month in comparison with the identical month earlier 12 months.

It’s for the fourth time, the gross GST assortment has crossed Rs.1.60 lakh crore mark. The typical month-to-month gross GST assortment for the primary quarter of the FY 2021-22, FY 22-23 & FY 23-24 are Rs.1.10 lakh crore, Rs.1.51 lakh crore and Rs.1.69 lakh crore respectively.

The chart beneath reveals developments in month-to-month gross GST revenues through the present 12 months. The table-1 reveals the state-wise figures of GST collected in every State through the month of June 2023 as in comparison with June 2022 and table-2 reveals the SGST portion of the IGST acquired/settled to the States/UTs in June’2023.

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State-wise progress of GST Revenues throughout June 2023

Quantity of SGST portion of IGST settled to States/UTs in June’2023

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