Goods and services tax (GST) collection in April was 12% higher than the revenue in the same month last year, the finance ministry said in an official statement on April 1, 2023. During the month, revenue from domestic transactions, including import of services, was 16% higher than the revenues from these sources during the same month last year, it added.
The GST revenue collected in April 2023 stood at Rs 1,87,035 crore. Of this, the Central GST (CGST) was Rs 38,440 crore, the state GST (SGST) Rs 47,412 crore and the Integrated GST (IGST) Rs 89,158 crore. The cess accounted for Rs 12,025 crore in the overall collection, including Rs 901 crore collected on import of goods.
“For the first time, gross GST collection has crossed Rs 1.75-lakh-crore mark. Total number of e-way bills generated in March 2023 was 9.0 crore. This is 11% higher than 8.1 crore e-way bills generated in the month of February 2023,” the ministry said.
The government has settled Rs 45,864 crore to the CGST and Rs 37,959 crore to the SGST from the IGST. Total revenue of the Centre and states in April after regular settlement was Rs 84,304 crore and Rs 85,371, respectively.
During the month, the highest-ever tax collection on a single day was seen on April 20, when Rs 68,228 crore was paid through 9. 8 lakh transactions. The highest single day payment last year on the same date was Rs 57,846 crore through 9.6 lakh transactions.
Prime minister Narendra Modi called the development a “great news for the Indian economy”. Replying to a finance ministry tweet, the PM tweeted: “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.”