GST collections grow 15% to Rs 1.49 lakh crore in December

The revenues for December were 15 per cent higher than the revenues in the same month last year.

New Delhi, Jan 01: The gross Goods and Services Tax (GST) revenue collected during December 2022 is Rs 1,49,507 crore, 15 per cent higher than the year-ago period, the Finance Ministry said on Sunday.

This month is the tenth month in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark. The collections had touched a record high of nearly Rs 1.68 lakh crore in April. The second-highest collection was Rs 1.52 lakh crore in October.

"The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods)," the finance ministry said in a statement.

"The Government has settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST," it added.

In December, only 11 states and Union Territories (UTs) saw their GST collections grow by under 14 percent.

"The revenues for the month of December 2022 are 15% higher than the GST revenues in the same month last year. 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. During the month of November, 2022, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in October, 2022," the statement said.