GST collections at Rs 1.49 lakh crore in December 2022; up 15% Year-on-Year

Monthly revenues from GST have been over Rs 1.4 lakh crore for 10 consecutive months

The goods and services tax (GST) revenue collection grew by 15% in December 2022 to over ₹1.49 lakh crore compared to the December 2021 and 2.5% higher from November, the Finance Ministry reported.

In December, the Central GST was Rs 26,711 crore and the State GST was Rs 33,357 crore, according to the ministry. Integrated GST was Rs 78,434 crore, which included Rs 40,263 crore collected on imports of goods. Cess was Rs 11,005 crore (including Rs 850 crore collected on import of goods)

The Government has settled ₹36,669 crore to the CGST and ₹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 ₹63,380 crore for CGST and ₹64,451 crore for the SGST,” the ministry added.

Revenue from domestic transactions increased by 18% year-over-year, while import revenue grew by 8%. According to the ministry, the number of e-way bills generated in November 2022 was 7.9 crore, up from 7.6 crore in the previous month of October 2022.

Bihar saw the biggest income growth year-over-year at 36%, followed by Nagaland (30%), the erstwhile State of Jammu and Kashmir (28%) and Arunachal Pradesh (27%), with Gujarat and Andhra Pradesh seeing an increase in GST inflows of 26% respectively.

Edited by Tanmoy Mitra

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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