GST collections in December grow 15% to Rs 1.49 lakh crore

GST collections in December grow 15% to Rs 1.49 lakh crore

The collections had touched a record high of nearly Rs 1.68 lakh crore in April. The second-highest collection was Rs 1.52 lakh crore in October.

India's GST collections in December
Business Today Desk
  • Jan 01, 2023,
  • Updated Jan 01, 2023, 4:18 PM IST

GST collections for the month of December stood at over Rs 1.49 lakh crore, 15 per cent higher than the year-ago period, the Finance Ministry said on Sunday. 

In November, the collections were at nearly Rs 1.46 lakh crore, up 11 per cent from the year-ago period.

The collections had touched a record high of nearly Rs 1.68 lakh crore in April. The second-highest collection was Rs 1.52 lakh crore in October.

Today, the ministry said the gross GST revenue collected during December 2022 was Rs 1,49,507 crore, of which Central GST is Rs 26,711 crore, State GST is Rs 33,357 crore, IGST is Rs 78,434 crore.  

The Centre settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as regular settlement. 

The total revenue of the Centre and the states after regular settlements in the month of December 2022 was Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.

The revenues for December were 15 per cent higher than the revenues in the same month last year.

During the month, revenue from the import of goods was 8 per cent higher and the revenue from the domestic transactions (including the import of services) was 18 per cent higher than the revenue from these sources during the same month last year.

In November, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in the previous month, October.

 

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