GST Collection In January Surges To 1.55 Lakh Crore, Reports Finance Ministry

The gross GST revenue collected in the month of January 2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods), the finance ministry said on Tuesday. The Government has settled Rs 38,507 crore to CGST and Rs 32,624 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of January 2023 after regular settlement is Rs 67,470 crore for CGST and Rs 69,354 crore for the SGST. This is for the third time, in the current financial year, GST collection has crossed Rs 1.50 lakh crore mark. The GST collection in January 2023 is the second highest next only to the collection reported in April 2022. During the month of December 2022, 8.3 crore e-way bills were generated, which is the highest so far and it was significantly higher than 7.9 crore e-way bills generated in November 2022.

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