Gross GST Collection of Rs.14.97 lakh crore during April to December 2023

Gross GST collection increased by 12% year on year in the April-December 2023 period, hitting 14.97 lakh crore, up from 13.40 lakh crore in the same period the previous year (April-December 2022).

The average monthly gross GST collection of 1.66 lakh crore in the first nine months of the current year is a 12% increase over the 1.49 lakh crore average reported in the similar period of FY23.

In the month of December 2023, the gross GST revenue collected is Rs.1,64,882 crore, of which CGST is Rs.30,443 crore, SGST is Rs.37,935 crore, IGST is Rs.84,255 crore (including Rs.41,534 crore collected on import of goods), and cess is Rs.12,249 crore (including Rs.1,079 crore collected on import of goods). Notably, this is the fifth month this year in which collections have exceeded Rs.1.60 lakh crore.

From IGST, the government has settled Rs.40,057 crore to CGST and Rs.33,652 crore to SGST. After normal settlement, the total revenue of the Centre and the States in December 2023 is Rs.70,501 crore for CGST and Rs.71,587 crore for SGST.

The revenue for December 2023 is 10.3% greater than the revenue for the same month last year. Domestic transaction revenues (including service imports) were 13% higher during the month than during the same month last year.

The chart below shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise figures of GST collected in each State during the month of December 2023 as compared to December 2022.

Table-2 shows the state-wise figures of post-settlement GST revenue of each State till the month of December 2023.