GST Revenue: GST revenue increased by 15 percent in December 2022, Finance Ministry gave information

Pankaj Prasad
GST Revenue in December
GST Revenue in December

GST revenue in the country has increased by 15 percent to more than Rs 1.49 lakh crore in December 2022.

GST revenue in the country has increased by 15 percent to more than Rs 1.49 lakh crore in December 2022. According to the Finance Ministry, the gross GST revenue during December stood at Rs 1,49,507 crore. Of this, CGST stood at Rs 26,711 crore, SGST at Rs 33,357 crore, IGST at Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess at Rs 11,005 crore. 850 crore collected on import of goods. 

As per information, the government has settled Rs 36,669 crore in CGST and Rs 31,094 crore in SGST from IGST as regular settlement. The total revenue of the Center and the States after the regular settlement in the month of December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for SGST.

December is the 10th consecutive month when GST revenue has been more than Rs 1.40 lakh crore. Earlier in November, the GST collection increased by 11 percent year-on-year to Rs 1.46 lakh crore. In April, the collection had reached a record high of Rs 1.68 lakh crore. The second highest-ever GST collection has been Rs 1.52 lakh crore in October. Revenue from import of goods was eight per cent higher in December 2022 and revenue from domestic transactions (including import of services) grew by 18 per cent in the period under review.