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Dear Professional Colleagues,
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Greetings of the Day !
Ministry of Finance had issued a Press release dated
December 1st, 2023, regarding gross GST revenue.
Highlights
The
gross GST revenue collected in the month of November, 2023 is ₹1,67,929
crore out
of which
·
CGST
is ₹30,420 crore,
·
SGST
is ₹38,226 crore,
·
IGST
is ₹87,009
crore (including
₹39,198 crore
collected on import of goods) and
·
Cess
is ₹12,274 crore (including ₹ 1,036 crore collected on import of goods).
The
government has settled ₹37,878 crore to CGST
and ₹31,557 crore to SGST
from IGST. The total revenue of Centre and the States in the month of November,
2023 after regular settlement is ₹68,297 crore for CGST and ₹69,783 crore for the
SGST.
The
revenues for the month of November, 2023 are 15% higher than the GST revenues
in the same month last year and highest for any month year-on-year during
2023-24, upto November 2023. During the month, the revenues from domestic
transactions (including import of services) are 20% higher than the revenues
from these sources during the same month last year. It is for the sixth time
that the gross GST collection has crossed ₹1.60 lakh crore mark in FY 2023-24.The gross
GST collection for the FY 2023-24 ending November, 2023 [₹13,32,440 crore,
averaging ₹1.66 lakh per month]
is 11.9 % higher than the gross GST collection for the FY 2022-23 ending
November, 2022 [₹11,90,920 crore,
averaging ₹1.49 lakh crore per
month].
The
chart below shows trends in monthly gross GST revenues during the current
year. Table-1 shows the state-wise figures of GST collected in
each State during the month of November 2023 as compared to November
2022. Table-2 shows the state-wise figures of post settlement
GST revenue of each State till the month of November 2023.
Chart: Gross GST Collection (Rs. crore)
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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
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