December GST revenue rises to Rs.1.50 lakh crore

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Biznextindia : The country’s gross GST revenue rose by 15 percent (YoY) to 1,49,507 crore in December 2022, as against Rs. 1.29,780 crore in December 2021. It is also 2 percent more than November 2022’s collection of Rs. 1.46 lakh crore.

“Out of the Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods)” according to the data released by the Finance Ministry.

The Government has settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.

During the month, revenues from import of goods was 8% higher and the revenues from domestic transaction (including import of services) are 18% higher than the revenues from these sources during the same month last year. During the month of November, 2022, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in October, 2022.

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