GST collection for September stands at over Rs 1.62 lakh crore – 10.2% more than last year
The total GST collection for the first half of the current financial year is Rs 9,92,508 crore, marking an 11% growth from the previous year.
India’s Goods and Services tax revenue collection in September stood at Rs 1,62,712 crore, marking a 10.2% increase from the same month last year.
Out of this, the central GST component amounted to Rs 29,818 crore, while state GST amounted to Rs 37,657 crore. Revenue generated from integrated GST stood at Rs 83,623 crore, while GST cess amounted to Rs 11,613 crore.
“During the month, revenues from domestic transactions [including import of services] are 14% higher than the revenues from these sources during the same month last year,” the Ministry of Finance said. “It is for the fourth time that gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24.”
The total GST collection for the first half of the current financial year was Rs 9,92,508 crore, which amounted to an 11% growth from the same period in the previous year. The average monthly gross GST collection till now in 2023-24 is Rs 1.65 lakh crore.
👉 ₹1,62,712 crore gross #GST revenue collected during September 2023; records 10% Year-on-Year growth
— Ministry of Finance (@FinMinIndia) October 1, 2023
👉 GST collection crosses ₹1.60 lakh crore mark for the fourth time in FY 2023-24
👉 ₹9,92,508 crore gross #GST collection for the first half of FY 2023-24 marks 11% Y-o-Y… pic.twitter.com/1C8QiSQcVw
The states and Union Territories that reported the highest growth in GST collections as compared to September last year were Ladakh (81%), Manipur (47%), Telangana (33%) and Jammu and Kashmir (32%).
On the other hand, one state and two Union Territories marked negative GST growth. These were Lakshadweep (-45%), Andaman and Nicobar Islands (-30%) and Bihar (-5%).