The gross Goods and Services Tax (GST) revenue collection grew by 12 per cent in April to Rs 1.87 lakh crore. It is the highest monthly mop-up since the rollout of the indirect tax regime in July 2017, the Ministry of Finance 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 collected in the month of April 2023 is Rs 1,87,035 crore of which CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore.
“The revenues for the month of April 2023 are 12 per cent higher than the GST revenues in the same month last year,” the ministry said. The government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. The total revenue of the Centre and the States in the month of April 2023 after the regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for SGST.
During the month, the revenues from domestic transactions (including import of services) are 16 per cent higher than the revenues from these sources during the same month last year. “For the first time gross GST collection has crossed 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 per cent higher than the 8.1 crore e-way bills generated in the month of February 2023,” it said.
The month of April 2023 saw the highest-ever tax collection on a single day on 20th April 2023. On 20th April 2023, Rs 68,228 crore was paid through 9. 8 lakh transactions. The highest single-day payment last year (on the same date) was Rs 57,846 crore through 9.6 lakh transactions.
The chart below shows trends in monthly gross GST revenues 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.
Prime Minister Narendra Modi has called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore a “great news for the Indian economy.” Replying to a Finance Ministry tweet, the Prime Minister tweeted, “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.”
