GST Revenue Collection Increase 13% in March 2023

The highest collection of GST in April 2022 was Rs 1.68 lakh crore. The total collection of GST in FY 2022-23 was Rs 18.10 lakh crore.

Goods and Services Tax (GST) collections rose 13 percent this year to Rs 1.60 lakh crore in March. This is the second highest GST collection ever. With this, there has been an increase of 22 percent on annual basis in FY 2022-23. Releasing the GST collection figures for March 2023, the central Finance Ministry said that the highest GST returns were also submitted in this month.

A Finance Ministry statement said that the total GST collection in March 2023 was Rs 1,60,122 crore. Central GST (CGST) collection is Rs 29,546 crore, while State GST (SGST) collection is Rs 37,314 crore. During the same period, Rs 82,907 crore was collected as Integrated GST (IGST). This includes a cess of Rs 10,355 crore. Earlier in February, GST collection was Rs 1.49 lakh crore. Whereas tax collection in January was Rs 1.57 lakh crore.

The highest collection of GST in April 2022 was Rs 1.68 lakh crore. The total collection of GST in FY 2022-23 was Rs 18.10 lakh crore, which is 22 percent higher than FY 2021-22. The average monthly collection of GST in the last financial year was Rs 1.51 lakh crore. Four times during this entire year, tax collection on monthly basis was more than Rs 1.50 lakh crore.