India's Goods and Services Tax (GST) collections surged to nearly Rs 1.63 lakh crore in September 2023, a growth of 10 percent on a year-on-year basis, the Finance Ministry said in a statement on Sunday, October 1. The collection from GST was Rs 1,47,686 crore in September 2022.
The GST collection has crossed the Rs 1.60 lakh crore-mark for the fourth time in financial year 2023-24.
Of the Rs 1.63 lakh crore in September, CGST component was Rs 29,818 crore, SGST Rs 37,657 crore, IGST Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess Rs 11,613 crore (including Rs 881 crore collected on import of goods).
The government has settled Rs 33,736 crore to CGST and Rs 27,578 crore to SGST from IGST. "The total revenue of Centre and the States in the month of September, 2023 after regular settlement is Rs 63,555 crore for CGST and Rs 65,235 crore for the SGST," the ministry said in its release.
The gross GST collected for the first half of fiscal FY24 stood at Rs 9,92,508 crore, which is 11 percent higher than the gross GST collected in the first half of FY23. Also, the average monthly gross collection in FY24 came in at Rs 1.65 lakh crore, a growth of 11 percent than the average monthly gross collection for first half of FY23.
First Published: Oct 1, 2023 4:00 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM
Wine shops and bars to remain shut for 4 days in Mumbai in 4 weeks, check details
May 15, 2024 7:52 PM
INDIA bloc will win majority seats in Bihar, says Tejashwi Yadav
May 15, 2024 4:20 PM