02.01.2022: GST collections grow 15 pc to Rs 1.49 lakh cr in December

India's goods and services tax receipts in December rose 15% year-on-year to Rs 1.49 lakh crore ($18.07 billion), a government statement said on Sunday, reflecting strong economic activity during the festive season.

Goods and services taxes brought in Rs 1.46 lakh crore in November.

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 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. 

According to the Finance ministry statement, 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 report stated.

Source: The Economic Times

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