GST collections see 8.9 pc YoY growth at Rs 1.87 lakh crore in October
It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh crore mark.
The gross GST revenue collected in 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, (including Rs 39,035 crore collected on import of goods) and cess is Rs 11,900 crore (including Rs 1,028 crore collected on import of goods), the Finance Ministry said today.
The government has settled Rs 36,224 crore to CGST and Rs 30269 crore to SGST from IGST. The total revenue of the Centre and the states in the month of June 2023 after regular settlement is Rs 67,237 crore for CGST and Rs 68,561 crore for the SGST.
The revenues for the month of June 2023 are 12 per cent higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 18 per cent higher than the revenues from these sources during the same month last year.
It is for the fourth time, the gross GST collection has crossed Rs. 1.60 lakh crore mark. The average monthly gross GST collection for the first 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.
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