India’s gross GST collections in December jumped 10.3% to Rs 1.64 trillion

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The gross Goods and Services Tax (GST) collections in December 2023 were recorded at Rs 164,882 crore, 10.3 per cent higher than Rs Rs 149,507 crore in December 2022, according to data released by the Ministry of Finance on Monday. In November 2023, GST collections were recorded at Rs 167,929 crore.

During the month, the revenues from domestic transactions (including import of services) were 13 per cent higher than the revenues from these sources during the same month last year. This marks the seventh month so far this financial year, with collections exceeding Rs 1.60 trillion.

In the first nine months of 2023, gross GST collection witnessed a 12 per cent year-on-year growth, reaching Rs 14.97 trillion, as against Rs 13.40 trillion collected in the same period of the previous year.

Out of the total of Rs 1.64 trillion, Central GST was Rs 30,443 crore; State GST was Rs 37,935 crore, Integrated GST was Rs 84,255 crore, and cess was Rs 12,249 crore.

“The government has settled Rs 40,057 crore to CGST and Rs 33,652 crore to SGST from IGST. The total revenue of Centre and the States in the month of December 2023 after regular settlement is Rs 70,501 crore for CGST and Rs 71,587 crore for the SGST,” the ministry said.

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Pooja Gupta

CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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CA Pooja Gupta (CA, ISA, having 15 years of experience. Educator and Digital Creator

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