GST revenue collection crosses more than Rs 1.4 lakh crore for seven months in a row

The total GST revenue collected in September 2022 was Rs 1,47,686 crore, of which the CGST portion was Rs 25,271 crore, the SGST portion was Rs 31,813 crore, the IGST portion was Rs 80,464 crore (including Rs 41,215 crore collected on goods imported), and the Cess portion was Rs 10,137 crore (including Rs 856 crore collected on import of goods).

The government made a regular settlement of Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST. After monthly payments in the month of September 2022, the combined income for the Centre and the States is Rs 57,151 crore for the CGST and Rs 59,216 crore for the SGST.

In comparison to the same month last year, the revenues for September 2022 are 26% greater than the GST revenues. In comparison to the same month last year, the revenue from imports of products was up 39%, while the revenue from domestic transactions, which includes imports of services, was up 22%.

The monthly GST earnings have exceeded the Rs 1.4 lakh crore mark for the eighth consecutive month and the seventh month in a row. GST revenue has increased by 27% through September 2022 compared to the same time in the previous year, continuing to show very strong buoyancy. 7.7 crore e-way bills were produced in August 2022, which was just a little bit more than 7.5 crore in July 2022.

On September 20th, this month saw the second-highest single-day collection of Rs. 49,453 crore with the second-highest number of challans filed (8.77 lakh). This collection was only surpassed by the Rs. 57,846 crore collected on July 20th, 2022, through 9.58 lakh challans, which pertained to end-of-year returns. This demonstrates unequivocally that the GSTN-maintained portal has reached full stabilisation and is error-free. Another significant milestone was reached in September when, on September 30, 2022, 72.94 lakh e-invoices and 37.74 lakh e-way bills, collectively totaling more than 1.1 crore, were generated on the NIC site without a hitch.