Feb 01: The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is
Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods).
The Government has settled Rs 38,507 crore to CGST and Rs 32,624 crore to SGST from IGST as regular settlement. The total revenue of the Centre and the States in the month of January 2023 after a regular settlement is Rs 67,470 crore for CGST and Rs 69,354 crore for the SGST.
The revenues in the current financial year up to the month of January 2023 are 24%higher than the GST revenues during the same period last year. The revenues for this period from the import of goods are 29% higher and from domestic transactions (including the import of services) are 22% higher than the revenues from these sources for the same period last year.
This is for the third time, in the current financial year, GST collection has crossed Rs 1.50 lakh crore mark. The GST collection in January 2023 is the second highest next only to the collection reported in April 2022. During the month of December 2022, 8.3 crore e-way bills were generated, which is the highest so far and it was significantly higher than the 7.9 crore e-way bills generated in November 2022.
Over the last year, various efforts have been made to increase the tax base and improve compliance. The percentage of filing of GST returns (GSTR-3B) and of the statement of invoices (GSTR-1), till the end of the month, has improved significantly over years. The trend in return filing in the Oct-Dec quarter over the last few years is as shown in the graph below. In the quarter Oct-Dec 2022, a total of 2.42 crore GST returns were filed till the end of the next month as compared to 2.19 crore in the same quarter in the last year.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.