• Notification Date: 02-09-2023
• Notification No: N/A

GST Collections in August rises by 11% to over Rs 1.59 Lakh crore

The gross Goods and Services Tax (GST) revenue collected in the month of August 2023 is Rs 1,59,069 crore, a growth of 11% on an annual basis, said Ministry of Finance on Friday. 

Of the Rs 1.59 lakh crore GST collected, CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore (including Rs 43,550 crore collected on import of goods) and cess is Rs 11,695 crore (including Rs 1,016 crore collected on import of goods). 

The government has settled Rs 37,581 crore to CGST and Rs 31,408 crore to SGST from IGST. The total revenue of Centre and the States in the month of August, 2023 after regular settlement is Rs 65,909 crore for CGST and Rs 67,202 crore for the SGST. 

The revenues for the month of August 2023 are 11% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 3% higher and the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year. 

Revenue Secretary Sanjay Malhotra said earlier on Friday that GST collections have grown by more than nominal GDP and this is despite no increase in tax rates. This is because of better compliance and improved tax collection efficiency. Tax evasion and avoidance is low. 

GDP growth was 7.8% in June quarter and nominally it has grown 8%. 
  

GST lucky draw  

The Centre launched the GST lucky draw 'Mera Bill Mera Adhikar' scheme in six states and Union Territories on Friday, for which the Central and state governments have set aside a Rs 30-crore corpus for this fiscal for the reward scheme. 

Revenue Secretary Malhotra on Friday said the 'Mera Bill Mera Adhikar' GST lucky draw is being launched on a pilot basis in six states and the prize money will be contributed equally by the Centre as well as states. 

"GST has benefitted citizens, customers and governments. Revenues are increasing every month and Centre and states have come together to ensure that tax rates comes down under GST," he said. 

The government on Friday launched the Mera Bill Mera Adhikar scheme on a pilot basis on September 1 in Assam, Gujarat & Haryana and UTs of Puducherry, Dadra Nagar Haveli and Daman & Diu. 

Every Month there will be 810 lucky draws. Every quarter there will be 2 bumper lucky draws. 

The monthly draws include 800 lucky draws of GST invoices of prize value of Rs 10,000 each and 10 draws with prize of Rs 10 lakh each. 

Every quarter the bumper draw would be Rs 1 crore each. 

"People should know that GST invoice is their right, it is required for after sales service, and to make people aware we have launched this scheme," Malhotra said. 

Haryana Deputy CM Dushyant Chautala said the mobile app for the scheme has been downloaded by over 50,000 people so far.