Gross GST collection of Rs 1,55,922 cr in January 2023, second-highest ever: Govt
Jan 31, 2023
New Delhi [India], February 1 : The GST collection in the month of January surged to Rs 1,55,922 crore, the second-highest ever, the finance ministry said on Tuesday.
"The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods)," read an official statement from Ministry of Finance.
According to the ministry, the government has settled Rs 38,507 crore to CGST and Rs 32,624 crore to SGST from IGST as regular settlement.
The total revenue of the Centre and the states in the month of January 2023 after a regular settlement is Rs 67,470 crore for CGST and Rs 69,354 crore for the SGST.
The revenues in the current financial year, upto the month of January 2023, are 24 per cent higher than the GST revenues during the same period last year. The revenues for this period from the import of goods are 29 per cent higher and from the domestic transaction (including import of services) is 22 per cent higher than the revenues from these sources for the same period last year, the statement read.
"This is for the third time, in the current financial year, GST collection has crossed Rs 1.50 lakh crore mark. The GST collection in January 2023 is the second highest next only to the collection reported in April 2022," it read.
During December 2022, 8.3 crore e-way bills were generated, which is the highest so far and was significantly higher than the 7.9 crore e-way bills generated in November 2022.
According to an official statement, over the last year, various efforts have been made to increase the tax base and improve compliance. The percentage of filing of GST returns (GSTR-3B) and of the statement of invoices (GSTR-1), till the end of the month, has improved significantly over the years.
