Government collected ₹1.63 lakh crore from GST in September; 10.2% YoY growth
The government has collected Rs 1.63 lakh crore from Goods and Services Tax i.e. GST in September 2023. This is 10.2% more than a year ago i.e. September 2022. Then Rs 1.47 lakh crore was collected from GST. Whereas a month ago in August, the government had collected GST of Rs 1.59 lakh crore and in July, GST had collected Rs 1.65 lakh crore.
This is the 7th consecutive time that the revenue collection has been above Rs 1.5 lakh crore. However, till now the highest GST collection was in April 2023, when this figure had crossed Rs 1.87 lakh crore. Apart from this, the country’s GST collection has remained above Rs 1.4 lakh crore for 19 consecutive months.
CGST stood at Rs 29,818 crore
The Finance Ministry said, ‘GST revenue in August 2023 stood at Rs 1,62,712 crore. Of this, CGST was Rs 29,818 crore, SGST was Rs 37,657 crore, IGST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore. Cess includes Rs 881 crore received from import of goods.
In the financial year 2023-24 i.e. in the last five months, a total GST collection of Rs 9.93 lakh crore has been done so far. If we talk about the entire financial year 2022-23, the total GST collection was Rs 18.10 lakh crore.
Maharashtra tops in GST collection
Maharashtra tops the top-5 states in terms of GST collection in September 2023. GST collection in Maharashtra increased by 17% to Rs 25,137 crore compared to last year. In this list, Karnataka is at second place with a collection of Rs 11,693 crore and Tamil Nadu is at third place with a collection of Rs 10481 crore. The collection in Bihar has decreased by 5% compared to last year.
