India’s Ministry of Finance announced on May 1 that the country’s Goods and Services Tax (GST) gross revenue collection reached a new record of Rs 1,87,035 crore in April 2023, marking an increase 12% compared to the same period last year.
Revenue collection includes CGST at Rs 38,440 crore, SGST at Rs 47,412 crore, IGST at Rs 89,158 crore (with Rs 34,972 crore collected from importing goods) and cess at Rs 12,025 crore (with Rs 901 crore collected on the importation of goods).
The government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. The total revenue of the Center and States in the month of April this year after regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for SGST, the Finance Ministry said in the statement.
For the first time, the GST gross collection has passed the ₹1.75 lakh crore mark. The total number of e-invoices generated in the month of March 2023 was Rs 9.0 crore, which is 11% more than the e-invoices of Rs 8.1 crore generated in the month of February 2023.
The month of April 2023 saw the highest single-day tax collection on April 20, 2023. On April 20, 2023, ₹68,228 crore was paid through 9.8 lakh transactions. The highest single-day payout last year (on the same date) was ₹57,846 crore through 9.6 lakh transactions.
State-wise growth of GST Revenues during April 2023
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