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Dear Professional Colleagues,
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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.
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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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About Us
AMRG & Associates is an established Chartered Accountants firm. It came into existence in 1984 and since then has grown its branches across major Indian cities such as Delhi, Mumbai and Chandigarh. Since its inception, it has become one of the leading chartered accountants’ firms in North India. AMRG & Associates offers its clients a wide range of exceptional services through the expertise of its highly motivated group of trained professionals. The firm provides expertise in financial and business advisory, tax and regulatory, audit and assurance and risk advisory services. AMRG & Associates has a client base of 200+ companies & individuals. The firm's approach to service delivery helps to provide value-added services to its wide clientele. Our differentiation is derived from a rapid performance based, industry-tailored and technology-enabled business advisory services delivered by talented professionals in the country.
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