GST collections surge 26% in September
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The gross Goods and Services Tax (GST) collections surged 26% in the month of September 2022 at Rs 1,47,686 crore over the same month last year. Out of total, CGST is Rs 25,271 crore, SGST is Rs 31,813 crore, IGST is Rs 80,464 crore (including Rs 41,215 crore collected on import of goods) and Cess is Rs 10,137 crore (including Rs 856 crore collected on import of goods).
As per the Ministry of Finance, the government has settled Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of September 2022 is Rs 57,151 crore for CGST and Rs 59,216 crore for the SGST.
The Ministry also noted that during the month, revenues from import of goods was 39% higher and the revenues from domestic transaction (including import of services) are 22% higher than the revenues from these sources during the same month last year.
Besides, this is the eighth month and for seventh months in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark. The growth in GST revenue till September 2022 over the same period last year is 27%, continuing to display very high buoyancy. During the month of August 2022, 7.7 crore e-way bills were generated, which was marginally higher than 7.5 crore in July 2022.
