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Dear Professional Colleagues,

Greetings of the Day !


Ministry of Finance had issued a Press release dated November 01, 2022, regarding gross GST revenue.

Highlights

  • The gross GST revenue collected in the month of October 2022 is  1,51,718 crore of which
    • CGST is  26,039 crore,
    • SGST is  33,396 crore,
    • IGST is  81,778 crore (including 37,297 crores collected on import of goods) and
    • Cess is  10,505 crore (including 825 crores collected on import of goods).
  • Second highest collection ever with, next only to the collection in April 2022
  • Monthly GST revenues more than 1.4 lakh crore for eight months in a row, with 1.5 lakh crore crossed for the 2nd time since inception of GST.
  • September 2022 sees generation of 8.3 crore e-way bills, which is significantly higher than 7.7 crore e-way bills generated in August 2022

The government has settled ₹ 37,626 crore to CGST and ₹ 32,883 crore to SGST from IGST as regular settlement. In addition, Centre has also settled Rs 22,000 crore on adhoc basis in the ratio of 50:50 between Centre and States. The total revenue of Centre and the States after regular as well as adhoc settlements in the month of October 2022 is ₹74,665 crore for CGST and ₹ 77,279 crore for the SGST.

 

The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark. October also saw the second highest collection from domestic transactions, next only to April 2022. This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the ₹ 1.4 lakh crore mark. During the month of September 2022, 8.3 crore e-way bills were generated, which was significantly higher than 7.7 crore e-way bills generated in August 2022.

 

The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of October 2022 as compared to October 2021.


  

Hope you find it interesting and useful to read.

For any clarification/ feedback, feel free to write us at amrg@amrg.in.


Best regards,

AMRG Team


   


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