New Delhi: The revenue from Goods and Service Tax (GST) crossed Rs 1.6 lakh crore in September 2023. The gross GST collections in stood at Rs 1,62,712 crore in last month. GST collection witnessed a 10% growth when compared with the GST revenues in the same month last year. It is the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in the current FY 2023-24.
Of the Rs 1,62,712 crore GST collected, CGST is Rs 29,818 crore, SGST is Rs 37,657 crore, IGST is Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess is Rs 11,613 crore (including Rs 881 crore collected on import of goods).
During the first half of the FY 2023-24 ended September 2023, the gross GST collection stood at Rs 9,92,508 crore. This is 11% higher than the Rs 8,93,334 crore recorded a year ago.
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‘The revenues for the month of September 2023 are 10% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year. It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24,’ the finance ministry said in a statement.
The average monthly gross collection in FY 2023-24 stood at Rs 1.65 lakh crore, which is 11% higher than the average monthly gross collection for the first half of FY 2022-23 where it was Rs 1.49 lakh crore.
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