04.11.2022: Kerala’s GST revenue sees 29% growth





Kerala’s GST revenue saw 29 pc growth in October when compared to the previous year.  The national growth rate for the month was 18 pc.  The state’s actual collection in October was Rs 2,485 crore when compared to Rs 1,932 crore in the previous year.   The country’s gross GST revenue collected in October was Rs 1,51,718 crore of which CGST was Rs 26,039 crore, SGST Rs 33,396 crore, IGST Rs 81,778 crore (including Rs 37,297 crore collected on import of goods) and cess Rs 10,505 crore (including Rs 825 crore collected on import of goods), which is second highest till date.

The Union government settled Rs 37,626 crore to CGST and Rs 32,883 crore to SGST from IGST as regular settlement. In addition, Centre has also settled Rs 22,000 crore on ad hoc basis in the ratio of 50:50 between Centre and states. The total revenue of Centre and the states after regular as well as ad hoc settlements in the month of October 2022 is Rs74,665 crore for CGST and Rs 77,279 crore for the SGST.

Source: The New Indian Express

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