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GST - March collections second highest in fiscal - Rs 1.6 lakh crore

By TIOL News Service

NEW DELHI, APR 01, 2023: THE gross GST revenue collected in the month of March 2023 is Rs.1,60,122 crore of which CGST is Rs.29,546 crore, SGST is Rs.37,314 crore, IGST is Rs.82,907 crore (including Rs.42,503 crore collected on import of goods) and cess is Rs.10,355 crore (including Rs.960 crore collected on import of goods). It is for the fourth time, in the current financial year that the gross GST collection has crossed Rs.1.5 lakh crore mark registering second highest collection since implementation of GST. This month witnessed the highest IGST collection ever.

The government has settled Rs.33,408 crore to CGST and Rs.28,187 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of March 2023 after IGST settlement is Rs.62,954 crore for CGST and Rs.65,501 crore for the SGST.

The revenues for the month of March 2023 are 13% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 8% higher and the revenues from domestic transaction (including import of services) are 14% higher than the revenues from these sources during the same month last year. The return filing during March 2023 has been highest ever. 93.2% of statement of invoices (in GSTR-1) and 91.4% of returns (in GSTR-3B) of February were filed till March 2023 as compared to 83.1% and 84.7%, respectively same month last year.

The total gross collection for 2022-23 stands at Rs.18.10 lakh crore and the average gross monthly collection for the full year is Rs.1.51 lakh crore. The gross revenues in 2022-23 were 22% higher than that last year. The average monthly gross GST collection for the last quarter of the FY 2022-23 has been Rs.1.55 lakh crore against the average monthly collection of Rs.1.51 lakh crore, Rs.1.46 lakh crore and Rs.1.49 lakh crore in the first, second and third quarters respectively.

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 March 2023 as compared to March 2022.

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State-wise growth of GST Revenues during March 2023

(Rs. crore)

S.No State Mar-22 Mar-23 Growth (%)

1

Jammu and Kashmir

368

477

29.42

2

Himachal Pradesh

684

739

8.11

3

Punjab

1,572

1,735

10.37

4

Chandigarh

184

202

10.09

5

Uttarakhand

1,255

1,523

21.34

6

Haryana

6,654

7,780

16.93

7

Delhi

4,112

4,840

17.72

8

Rajasthan

3,587

4,154

15.80

9

Uttar Pradesh

6,620

7,613

15.01

10

Bihar

1,348

1,744

29.40

11

Sikkim

230

262

14.11

12

Arunachal Pradesh

105

144

37.56

13

Nagaland

43

58

35.07

14

Manipur

60

65

9.37

15

Mizoram

37

70

91.16

16

Tripura

82

90

10.21

17

Meghalaya

181

202

11.51

18

Assam

1,115

1,280

14.87

19

West Bengal

4,472

5,092

13.88

20

Jharkhand

2,550

3,083

20.92

21

Odisha

4,125

4,749

15.14

22

Chhattisgarh

2,720

3,017

10.90

23

Madhya Pradesh

2,935

3,346

14.01

24

Gujarat

9,158

9,919

8.31

25

Daman and Diu

     

26

Dadra and Nagar Haveli

284

309

8.99

27

Maharashtra

20,305

22,695

11.77

29

Karnataka

8,750

10,360

18.40

30

Goa

386

515

33.33

31

Lakshadweep

2

3

30.14

32

Kerala

2,089

2,354

12.67

33

Tamil Nadu

8,023

9,245

15.24

34

Puducherry

163

204

24.78

35

Andaman and Nicobar Islands

27

37

38.88

36

Telangana

4,242

4,804

13.25

37

Andhra Pradesh

3,174

3,532

11.26

38

Ladakh

23

23

-3.66

97

Other Territory

149

249

66.48

99

Center Jurisdiction

170

142

-16.31

  Grand Total 1,01,983 1,16,659 14.39

Does not include GST on import of goods


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