New Delhi [India], May 2 : Prime Minister Narendra Modi called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore "great news for the Indian economy."
"Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance," tweeted PM Modi.
The gross GST collection in April 2023 is an all-time high of Rs 1,87,035 crore, Rs 19,495 crore more than the next highest collection of Rs 1,67,540 crore in April 2022.
GST revenues for April 2023 are 12 per cent higher than the GST revenues year-on-year. The highest tax collected on a single day ever was Rs 68,228 crore through 9. 8 lakh transactions on April 20, 2023.
Of the GST revenue collected in April, CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore (including Rs 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 the Centre and the States in the month of April 2023 after the regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST.
"The revenues for April 2023 are 12 per cent higher than the GST revenues in the same month last year," a Finance Ministry release said.
During the month, the revenues from domestic transactions (including import of services) are 16 per cent 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.
The total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11 per cent higher than the 8.1 crore e-way bills generated in the month of February 2023.
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