• Notification Date: 06-04-2023
• Notification No: N/A

Second Highest GST Collection in March 2023

The Indian government has seen a collection of Rs 1,60,122 crore as gross GST (goods and services tax) revenue for the month of March 2023. This is the second-highest collection ever, next only to the collection in April 2022. 

The monthly GST revenue collections have stayed more than Rs 1.4 lakh crore for the past 12 months (full FY23) in a row. This is also only the second time that Rs 1.6 lakh crore has been crossed since the inception of GST. 

When compared on a year-on-year basis, the GST revenue growth has been clocked at 13 percent for the fiscal that ended yesterday (March 31, 2023). 

The total gross collection for 2022-23 currently stands at Rs 18.10 lakh crore. The average gross monthly collection for the full year is Rs 1.51 lakh crore. 

It is noteworthy that the gross revenues in 2022-23 were 22 percent higher than that last year. 

In a bid to increase its tax base and catch tax avoiders, the GST department in March also announced that it will soon begin analysing ITRs filed by businesses and professionals and MCA filings to ascertain if the entities are adequately discharging their GST liability and widening the taxpayer base. 

The data analysis will focus on those entities which are not exempt and are required to register under the GST and file returns, either monthly or quarterly. After identifying the entities which are not complying with the GST law, the GST department will communicate to them at their registered place of business asking them the reasons for non-compliance.