In April, 2023, GST collection grew by 12 percent to 1.87 lakh crore rupees, which is the highest monthly collection since the introduction of the tax regime. Out of the gross GST revenue of rupees 1, 87, 035 crore in the month of April, the CGST is 88, 440 crore rupees, SGST is 47, 412 crore rupees, IGST is 89, 158 crore rupees, and cess is 12, 025 crore rupees.
The second highest GST collection was recorded in the month of April last year at 1.68 lakh crore rupees. The finance ministry, in a statement, said, “The revenues for the month of April, 2023 are 12 percent higher than the GST revenues in the same month last year’. During April, 2023, the revenues from domestic transactions, including import of services, are 16 percent higher than the revenues from these very sources during April, 2022. In the month of March, the GST collection was 1.6 lakh crore rupees.
This is for the first time that gross GST collection has crossed the mark of 1.75 lakh crore rupees, and the total number of e-way bills generated in the month of March 2023 was 9-crore, which is 11 percent higher than 8.1 crore e-way bills generated in the month of February, 2023.
At the same time, the total gross collection for the fiscal year of 2022-23 stood at 18.10 lakh crore rupees, which is 22 percent higher than the previous year collection.
Prime Minister Modi has labelled this highest GST collection as a ‘great news’ for the Indian economy.
