Image Source : PTI REPRESENTATIVE IMAGE
Gross GST collections in September 2023 stood at Rs 1,62,712 crore, which is 10 per cent higher as compared to last year, according to the data released by the Finance Ministry on Sunday. It is the fourth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in the current FY 2023-24. Notably, the gross GST revenue collected last month was Rs 1,62,712 crore.
As per the Ministry of Finance, during the month of September 2023, Central GST is Rs 29,818 crore, State GST is Rs 37,657 crore, Integrated GST 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).
The government has settled Rs 33,736 crore to CGST and Rs 27,578 crore to SGST from IGST. The total revenue of the Centre and the States in the month of September 2023 after regular settlement is Rs 63,555 crore for CGST and Rs 65,235 crore for the SGST.
Revenues for September 2023 10% higher
“The revenues for the month of September 2023 are 10 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 14 per cent 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.
Gross GST collection for the first half of the FY 2023-24 11% higher
“The gross GST collection for the first half of the FY 2023-24 ending September 2023 [Rs 9,92,508 crore] is 11 per cent higher than the gross GST collection in the first half of FY 2022-23 [Rs 8,93,334 crore]. The average monthly gross collection in FY 2023-24 is Rs 1.65 lakh crore, which is 11 per cent higher than the average monthly gross collection for the first half of FY 2022-23 where it was Rs 1.49 lakh crore,” it said.
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