GST Revenue Collection For April 2023 At All-Time High Of Rs 1.87 Lakh Crore, 12% Up YOY

The gross Goods and Service Tax (GST) revenue collected in the month of April, 2023 was highest ever at Rs 1,87,035 crore. On Monday the centre released the GST revenue collection data and, it showed that the amount for April has grown by 12 per cent year-on-year (YOY).

Out of the gross GST, central GST is Rs 38,440 crore, state GST 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 (including Rs 901 crore collected on import of goods), said government.

"Gross GST collection in April 2023 is all-time high, Rs 19,495 crore more than the next highest collection of Rs 1,67,540 lakh crore, in April 2022," said Ministry of Finance.

The government has settled ₹45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2023 after regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST.

For the first time, gross GST collection has crossed Rs 1.75 lakh crore-mark. Total number of e-way bills generated in the month of March 2023 was 9 crore, which is 11 per cent higher than 8.1 crore e-way bills generated in the month of February 2023.

April 2023 saw the highest-ever tax collection on a single day on April 20 when 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.

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.

The total gross collection for the 2022-23 fiscal stood at Rs 18.1 lakh crore, 22 per cent higher than the previous year.