Print Icon
 
https://campaign-image.com/zohocampaigns/133052000002457092_zc_v53_artboard_1.png

Dear Professional Colleagues,

Greetings of the Day !


Ministry of Finance had issued a Press release dated June 1st, 2023, regarding gross GST revenue.

Highlights

The gross GST revenue collected in the month of May 2023 is Rs 1,57,090 crore of which,

    • CGST is  28,411 crore,
    • SGST is  35,828 crore,
    • IGST is  81,363 crore (including  41,772 crores collected on import of goods) and
    • Cess is  11,489 crore (including  1,057 crores collected on import of goods).
    • 1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
    • Monthly GST revenues more than 1.4 lakh crore for 14 months in a row, with 1.5 lakh crore crossed for the 5th time since inception of GST
    • Revenue from import of goods 12% higher Y-o-Y; Domestic transactions (including import of services) revenue 11% higher Y-o-Y

 

The government has settled ₹35,369 crore to CGST and ₹29,769 crore to SGST from IGST. The total revenue of Centre and the States in the month of May 2023 after regular settlement is ₹63,780 crore for CGST and ₹65,597 crore for the SGST.

The revenues for the month of May 2023 are 12% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 12% higher and the revenues from domestic transactions (including import of services) are 11% 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 May 2023 as compared to May 2022.

https://stratus.campaign-image.in/images/113471000005852006_zc_v1_1685766259179_image001_(1).png

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.


Follow us on

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

 
This email was sent by amrg@amrg.in to Ripanshu@amrg.in
AMRG & Associates | AMRG TOWER, 23, MAIN ROHTAK ROAD, PASCHIM VIHAR EXT, NEW DELHI -110063