The Business Bytes
TBB BUREAU
NEW DELHI, APR 1, 2023
The gross GST revenue collected in the month of March 2023 grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent.
Gross GST revenue collected in March 2023 is Rs 1,60,122 crore, of which Central GST is Rs 29,546 crore, State GST is Rs 37,314 crore, Integrated GST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore, the finance ministry said in a statement.
In April 2022, GST collection had touched a record high of close to Rs 1.68 lakh crore. The second highest mop-up was recorded in March 2023, at a little over Rs 1.60 lakh crore.
During the month, revenue from import of goods was 8 per cent higher and the revenues from domestic transaction (including import of services) are 14 per cent higher than the revenues from these sources during the same month last yereturn filing during March 2023 has been highest ever.
For FY 2022-23, gross Goods and Services Tax (GST) mop-up grew 22 per cent to Rs 18.10 lakh crore. The average gross monthly collection for the full year is Rs 1.51 lakh crore.
