New Delhi: Gross Goods and Services Tax (GST) revenue collection grew by 12 per cent in April to Rs 1.87 lakh crore. This is the highest monthly mo-up since the rollout of the indirect tax regime in July 2017, the finance ministry said in a statement. The previous high collection of Rs 1.68 lakh crore was in April last year.
According to the ministry, the gross GST revenue for the month of April 2023 is Rs 1,87,035 crore, including CGST Rs 38,440 crore, SGST Rs 47,412 crore, IGST Rs 89,158 crore (including Rs 34,972 crore collected on imports). goods) and cess is Rs 12,025 crore.
“The revenue for the month of April 2023 is 12 per cent more than the GST revenue in the same month last year,” the ministry said. The government has settled Rs 45,864 crore in CGST and Rs 37,959 crore in SGST from IGST. The total revenue of the Center and the States in April 2023 after regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for SGST.
During the month, the revenue from domestic transactions (including import of services) is 16 per cent higher than the revenue from these sources during the corresponding month last year. “For the first time the gross GST collection has crossed the Rs 1.75 lakh crore mark. The total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11 percent higher as compared to 8.1 crore e-way bills generated in the month of February 2023.
In the month of April 2023, on 20 April 2023, the highest tax collection took place in a single day. Rs 68,228 crore has been paid through 9.8 lakh transactions on 20 April 2023. The highest single day payments last year (on the same date) was Rs 57,846 crore through 9.6 lakh transactions.
The chart below shows the trend in monthly gross GST revenue during the current year. The table shows the state-wise figures of GST collected in each state during the month of April 2023 as compared to April 2022.
State-wise growth in GST revenue during April 2023
PM Modi praised the highest ever GST collection
Prime Minister Narendra Modi has called GST revenue collection for April 2023 at an all-time high of Rs 1.87 lakh crore as “big news for the Indian economy”. Responding to a tweet by the Ministry of Finance, the Prime Minister tweeted, “Good news for the Indian economy! Rising tax collections despite lower tax rates reflect the success of GST in how integration and compliance have increased.”