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Dear Professional Colleagues,

Greetings of the Day !

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

Highlights

The gross GST revenue collected in the month of November 2022 is ₹ ₹1,45,867 crore of which

CGST is ₹ 25,681 crore,
SGST is ₹ 32,651 crore,
IGST is ₹ 77,103crore (including ₹ 38,635 crores collected on import of goods) and
Cess is ₹ 10,433 crore (including ₹ 817 crores collected on import of goods).

Monthly GST revenues more than 1.4 lakh crore for nine straight months in a row
Revenues from import of goods 20% higher and revenues from domestic transaction (including import of services) 8% higher than the same month last year

The government has settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2022 is ₹59678 crore for CGST and ₹61189 crore for the SGST. In addition, Centre had also released ₹17,000 crore as GST compensation to States/UTs in November 2022.

The revenues for the month of November 2022 are 11% higher than the GST revenues in the same month last year, which itself was Rs. 1.31,526 crore. During the month, revenues from import of goods was 20% higher and the revenues from domestic transaction (including import of services) are 8% higher than the revenues from these sources during the same month last year.

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 November 2022 as compared to November 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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