GST collection in December stands at Rs 1.49 lakh crore – 15% more than last month
In November, Rs 1,45,687 crore were collected as revenues from Goods and Services Tax.
Goods and Services Tax revenues for the month of December grew by more than 15% from last month to Rs 1,49,507 crore, according to government data released on Sunday. In November, Rs 1,45,687 crore were collected as GST.
Of the total revenue collection in December, the central GST component amounted to Rs 26,711 crore and state GST to Rs 33,357 crore. Revenue generated from integrated GST stood at Rs 78,434 crore, while GST cess amounted to Rs 11,005 crore.
👉 Rs 1,49,507 crore GST Revenue collected for December 2022, records increase of 15% Year-on-Year
— Ministry of Finance (@FinMinIndia) January 1, 2023
👉 Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row
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“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,” the Union finance ministry said in a press release.
The increase in GST revenues from domestic transactions and a significant rise in GST collections by key manufacturer and consuming states indicates towards a sustained manufacturing and consumption cycle in the recent months, Deloitte India Partner MS Mani told PTI.
