December GST collection surges 10% to ₹1.65 lakh cr
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The gross GST revenue collected in December rose 10% to ₹1,64,882 crore. The gross GST revenue from April to December 2023 was 12% higher at ₹14.97 lakh crore against ₹13.40 lakh crore in the corresponding month of the previous year (April-December 2022).
The monthly average gross GST collection of ₹1.66 lakh crore during the first nine months of 2023, reflected a 12% rise as compared to ₹1.49 lakh crore average reported in the same period in FY23.
The GST revenue for December 2023 includes ₹30,443 crore Central GST (CGST), ₹37,935 crore State GST (SGST), ₹84,255 crore IGST (inclusive of ₹41,534 crore from the import of goods), and cess at ₹12,249 crore (which includes ₹1,079 crore from the import of goods). December 2023 is marked as the seventh month where collections surpassed ₹1.60 lakh crore.
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The government also settled ₹40,057 crore to CGST and ₹33,652 crore to SGST from IGST in December 2023. After the regular settlement, the total revenue of the Centre and the states in October 2023 stands at ₹70,501 crore for CGST and ₹71,587 crore for SGST.
During the month, the revenue from domestic transactions, including the import of services, showed 13% growth than the revenues from these sources compared to the same period in the previous year.
The revenues for December 2023 show a 10.3% increase compared to GST revenues in the corresponding month of the previous year. Additionally, the revenues from domestic transactions, encompassing the import of services, exhibit a 13% growth in comparison to those from the same sources during December of the preceding year, it adds.
The post-settlement SGST data shared by the ministry shows Maharashtra at a 13% increase in the GST revenue till December 2023 vs the same period last year. Gujarat and UP recorded 10% and 13% growth respectively. Delhi, Tamil Nadu and West Bengal saw growth of 10%, 11% and 7% respectively.
The state-wise data of GST collected in each State during the month of December 2023 as compared to December 2022 shows Maharashtra with a growth of 14%, Gujarat and UP with 7% and 12% growth. Delhi, Tamil Nadu and West Bengal saw growth of 16%, 19%, 10% respectively.
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