December GST collections up 15 per cent at 1.49 lakh crore

NEW DELHI: The new year started on a good note for the government on the revenue front as GST revenues in December clocked Rs 1,49,507 crore, registering a 15 per cent increase over the same period last year.

This is the 10th straight month when the monthly GST collections have been over Rs 1.4 lakh crore.

Of the Rs 1,49,507 crore, collections under Central GST (CGST) were Rs 26,711 crore, under State GST the collections were Rs 33,357 crore, and Rs 78,434 crore under Integrated GST.

After settling Rs 36,669 crore from IGST to CGST and Rs 31,094 crore to SGST, the total revenue of Centre and the States in December 2022 was Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.

Imports accounted for Rs 40,263 crore of GST collections, which was 8% higher than the previous year, while GST from domestic transactions (including import of services) was 18% higher than that of the same month last year.

MS Mani, Partner, Deloitte India, says that an 18% increase in the GST revenues from domestic transactions viewed with the increase in e-way bill issuance and the significant increase in GST collections by key manufacturers and consuming states, would be indicative of a sustained manufacturing and consumption cycle across recent months

During the month of November, 7.9 crore e-way bills were generated, which was significantly higher than Rs 7.6 crore worth e-way bills generated in October 2022.

The monthly average collection in the first nine months is now Rs 1.48 lakh crore, almost Rs 30,000 more than the average monthly collections of Rs 1.18 lakh crore during the same month last year.

The total collection in the April-December 2022 has been Rs 13.34 lakh crore, 25% more than Rs 10.67 lakh collection during the same period the previous year.

NEW DELHI: The new year started on a good note for the government on the revenue front as GST revenues in December clocked Rs 1,49,507 crore, registering a 15 per cent increase over the same period last year. This is the 10th straight month when the monthly GST collections have been over Rs 1.4 lakh crore. Of the Rs 1,49,507 crore, collections under Central GST (CGST) were Rs 26,711 crore, under State GST the collections were Rs 33,357 crore, and Rs 78,434 crore under Integrated GST. After settling Rs 36,669 crore from IGST to CGST and Rs 31,094 crore to SGST, the total revenue of Centre and the States in December 2022 was Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST. Imports accounted for Rs 40,263 crore of GST collections, which was 8% higher than the previous year, while GST from domestic transactions (including import of services) was 18% higher than that of the same month last year. MS Mani, Partner, Deloitte India, says that an 18% increase in the GST revenues from domestic transactions viewed with the increase in e-way bill issuance and the significant increase in GST collections by key manufacturers and consuming states, would be indicative of a sustained manufacturing and consumption cycle across recent months During the month of November, 7.9 crore e-way bills were generated, which was significantly higher than Rs 7.6 crore worth e-way bills generated in October 2022. The monthly average collection in the first nine months is now Rs 1.48 lakh crore, almost Rs 30,000 more than the average monthly collections of Rs 1.18 lakh crore during the same month last year. The total collection in the April-December 2022 has been Rs 13.34 lakh crore, 25% more than Rs 10.67 lakh collection during the same period the previous year.