The gross GST revenue collected in Sep 2023 is Rs.1,62,712 crore out of which CGST is Rs.29,818 crore, SGST is Rs.37,657 crore, IGST is Rs.83,623 crore and cess is Rs.11,613 crore.
Reetu | Oct 3, 2023 |
GST Revenue Collection of Rs.1,62,712 crore during September 2023; Records 10% Year-on-Year growth
The gross GST revenue collected in the month of September, 2023 is Rs.1,62,712 crore out of which CGST is Rs.29,818 crore, SGST is Rs.37,657 crore, IGST is Rs.83,623 crore (including Rs.41,145 crore collected on import of goods) and cess is Rs.11,613 crore (including Rs.881 crore collected on import of goods).
From IGST, the government has settled Rs.33,736 crore to CGST and Rs.27,578 crore to SGST. After regular settlement, the total revenue of the Centre and the States in September 2023 is Rs.63,555 crore for CGST and Rs.65,235 crore for SGST.
The revenues for the month of September, 2023 are 10% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year. It is for the fourth time that the gross GST collection has crossed Rs.1.60 lakh crore mark in FY 2023-24.
The gross GST collection for the first half of the financial year 2023-24, ending September 20, 2023 [Rs.9,92,508 crore], is 11% higher than the gross GST collection for the first half of financial year 2022-23 [Rs.8,93,334 crore].
The average monthly gross collection in FY 2023-24 is Rs.1.65 lakh crore, which is 11% higher than average monthly gross collection for first half of FY 2022-23 where it was Rs.1.49 lakh crore.
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 September 2023 as compared to September 2022. Table-2 shows the state-wise figures of post-settlement GST revenue of each State till the month of September 2023.
April-September (Rs. in crore)
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