• Notification Date: 03-01-2023
  • Notification No: N/A

GST Collections rises by 15% amounting to Rs 1.49 Lakh crore in December

Goods and services tax (GST) receipts in India rose 15% year-on-year to Rs 1.49 lakh crore ($18.07 billion) on December. According to the statement of a government on Sunday, this reflects strong economic activity during the festive season. Goods and services taxes brought in Rs 1.46 lakh crore in November. 
The gross GST revenue collected during December 2022 is Rs 1,49,507 crore. Out of the total amount, CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods). 

The Government has settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST. 

According to the Finance ministry statement, the revenues from import of goods was 8% higher during the month. The revenues from domestic transaction (including import of services) are 18% higher than the revenues from these sources during the same month last year. 

The report states, "during the month of November, 2022, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in October, 2022."