| |
|
|
Dear Professional Colleagues,
|
|
Greetings of the Day !
Ministry of Finance had issued a Press release dated March 1st,
2023, regarding gross GST revenue.
Highlights
The
gross GST revenue collected in the month of February 2023 is Rs
1,49,577 crore of which
- CGST is ₹ 27,662 crore,
- SGST is ₹ 34,915 crore,
- IGST is ₹ 75,069 crore (including ₹ 35,689
crores collected on import of goods) and
- Cess is ₹ 11,931 crore (including ₹ 792 crores
collected on import of goods).
- Monthly GST
revenues more than Rs 1.4 lakh crore for 12 straight months in a row
- 12% higher
than GST revenues in same month last year
- Y-o-Y
revenues from import of goods 6% higher and domestic transaction
(including import of services) 15% higher
The
government has settled ₹34,770 crore to CGST and ₹29,054
crore to SGST from IGST as regular settlement. The total revenue of Centre and
the States after regular settlements in the month of February 2023 is ₹62,432
crore for CGST and ₹63,969 crore for the SGST. In addition,
Centre had also released balance GST compensation of ₹16,982
crore for the month of June 2022 and ₹16,524
crore to States/UTs which have sent AG certified figures for previous period.
The
revenues for the month of February 2023 are 12% higher than
the GST revenues in the same month last year, which was Rs. 1,33,026 crore.
During the month, revenues from import of goods was 6%
higher and the revenues from domestic transaction (including import of
services) are 15% higher than the revenues from these sources
during the same month last year. This month witnessed the highest cess
collection of ₹11,931
crore since implementation of GST. Normally, February being a 28 day month,
witnesses a relatively lower collection of revenue.
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 February 2023 as compared to February 2022.
![null]() 
|
|
|
|
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
|
|
|
|
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.
Corporate office (Delhi, India) : AMRG Tower, 23, Paschim Vihar Extension, Main Rohtak Road, New Delhi -110063, T - 011-47322696 / 97 Branch office (Mumbai, India) : Shop no 14,Adarsh Nagar Bldg No 4,Kolbad, Thane West 400601. Branch office (Sydney, Australia) : Unit 9, 14-15 Junia Avenue, Toongabbie NSW 2146, Sydney, Australia. International Desk (USA) : Wiener & Garg LLC 6000 Executive Boulevard, Suite 520 | Rockville, MD 20852, T - 301.881.4244 | D - 240.833.4002 © -2022 AMRG & Associates All Rights Reserved. This document has been written for the general interest of our clients and professional colleagues and is subject to change. This document is not to be construed as any form of solicitation. It is not intended to be exhaustive or a substitute for legal advice. We cannot assume legal liability for any errors or omissions. Specific advice must be sought before taking any action pursuant to this document.
|
|
|
|
|
|
You are receiving this email because you opted in via our website.
Our mailing address is AMRG Tower, 23, Paschim Vihar Extension, Main Rohtak Road, New delhi-110063 , India |
|
|
|
|
