New Delhi : India’s Goods and Service Tax (GST) revenue broke all previous records in April as it touches 1.87 lakh crore for the first time since its roll out in 2017. The revenues for the month of April 2023 are 12% higher than the GST revenues in the same month last year (April 2022).
“The gross GST revenue collected in the month of April, 2023 is Rs. 1,87,035 crore of which CGST is Rs. 38,440 crore, SGST is Rs. 47,412 crore, IGST is ₹89,158 crore (including ₹34,972 crore collected on import of goods) and cess is Rs. 12,025 crore (including ₹901 crore collected on import 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 Centre and the States in the month of April 2023 after regular settlement is ₹84,304 crore for CGST and Rs. 85,371 crore for the SGST” said a finance ministry release.
During the month, the revenues from domestic transactions (including import of services) are 16% higher than the revenues from these sources during the same month last year.
For the first time gross GST collection has crossed Rs.1.75 lakh crore mark. Total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11% higher than 8.1 crore e-way bills generated in the month of February 2023.
Month of April 2023 saw the highest ever tax collection on a single day on 20th April 2023. On 20th April 2023, Rs. 68,228 crore was paid through 9. 8 lakh transactions. The highest single day payment last year (on the same date) was Rs. 57,846 crore through 9.6 lakh transactions.