GST Collection: GST collection again crosses Rs 1.60 lakh crore, 10 percent growth in September

GST Collection: GST collection again crosses Rs 1.60 lakh crore, 10 percent growth in September

The month of September has proved to be excellent in terms of earning from GST. During the month of September, GST collection has once again crossed Rs 1.60 lakh crore. Along with this, this has happened four times so far in the current financial year, when the collection figure in any one month has been more than Rs 1.60 lakh crore. At the same time, there is a trend of growth in GST collection on annual basis every month.

Finance Ministry gave this figure

According to the data released by the Finance Ministry on Sunday, in the month of September In 2022, the government treasury received Rs 1,62,712 crore from GST, which is 10 percent more than the year before i.e. in September 2022. The government has so far received Rs 9,92,508 crore from GST during the financial year 2023-24. Thus, the average monthly collection of the government so far during the current financial year is Rs 1.65 lakh crore, which is a growth of 11 percent on an annual basis.

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Collection increasing every month

Earlier during the month of August, the government had received Rs 1,59,069 crore from GST. This was the collection of less than Rs 1.60 lakh crore for the first time in 6 months. Before that, the government was collecting more than Rs 1.60 lakh crore every month after March 2023. However, if compared to a year ago, the GST collection in August was also better, because there was an increase of 11 percent in the collection as compared to August 2022.

Started with a record

The financial year 2023-24 is proving to be very good in terms of GST. This financial year had started with a new record, when Rs 1.87 lakh crore came to the government treasury in April. This was 12 percent more than a year ago i.e. April 2022. Also, this was the best figure of GST collection in any one month so far.

In this way the tax came to the treasury

During the month of September, the government got Rs 29,818 crore from Central GST. Rs, Rs 37,657 crore from State GST and Rs 83,623 crore from Integrated GST. The figures of Integrated GST also include Rs 41,145 crore received from import of goods. At the same time, the government got Rs 11,613 crore from cess, which includes Rs 881 crore from imports.

During this period, the government settled Rs 33,736 crore and Rs 27,578 crore from Integrated GST into Central GST and State GST respectively. Did. In this way, the total earning of the government during the month of September 2023 was Rs 63,555 crore from Central GST and Rs 65,235 crore from State GST.

Also read: Began as a junior engineer, became the head of a Rs 2 lakh crore company, now retired… such has been the journey of this entrepreneur!

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