GST collection up 26% year-on-year at Rs1,47,686 cr in September
12 Oct 2022
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Gross revenue collected by way of Goods and Services Tax (GST) in September 2022 rose 26 per cent year-on-year to Rs1,47,686 crore, continuing the trend of GST revenues remaining above the Rs1.4 lakh crore level for eight months in a row
This included CGST of Rs25,271 crore, SGST of Rs31,813 crore, IGST of Rs80,464 crore (of which Rs41,215 crore came from import of goods) and cess amounting to Rs10,137 crore (of which Rs856 crore came from import of goods).
The government has apportioned Rs31,880 crore to CGST and Rs27,403 crore to SGST from IGST as regular settlement. The total revenue of centre and states after regular settlements in September 2022 stood at Rs57,151 crore of CGST and Rs59,216 crore of SGST.
The revenues for September 2022 are 26 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 39 per cent higher and the revenues from domestic transaction (including import of services) were 22 per cent higher than the revenues from these sources during the same month last year.
This is the eighth month and for seventh months in a row now, that the monthly GST revenues have been above the Rs1.4 lakh crore mark. The growth in GST revenue till September 2022 over the same period last year is 27 per cent, continuing to display very high buoyancy. During August 2022, 77 million e-way bills were generated, which was marginally higher than 75 million in July 2022.
This month witnessed the second highest single day collection of Rs49,453 crore on 20 September with second highest number of 8.77 lakh challans filed, next only to Rs57,846 crore collected on 20 July 2022 through 9.58 lakh challans, which pertained to end of the year returns.
The government considers this as clear indication that the GST portal maintained by GSTN has fully stabilised and is glitch free. September also saw another milestone getting crossed when more than 11 million e-way bills and e-invoices, combined (7.29 million e-invoices and 3.77 million e-way bills), were generated without any glitch on the portal run by NIC on 30 September 2022.
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