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GST - August revenue collections come down to Rs 1.59 lakh Crore from Rs 1.65 lakh Crore in July month

Published: Sep 01, 2023

By TIOL News Service

NEW DELHI, SEP 01, 2023: THE gross GST revenue collected in the month of August, 2023 is Rs 1,59,069 crore of which CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore (including Rs 43,550  crore collected on import of goods) and Cess is Rs 11,695 crore (including Rs 1,016 crore collected on import of goods).

The government has settled Rs 37,581 crore to CGST and Rs 31,408 crore to SGST from IGST. The total revenue of Centre and the States in the month of August, 2023 after regular settlement is Rs 65,909 crore for CGST and Rs 67,202 crore for the SGST.

The revenues for the month of August, 2023 are 11% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 3% higher and the revenues from domestic transactions (including import of services) are 14% 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-1 shows the state-wise figures of GST collected in each State during the month of August, 2023 as compared to August, 2022 and Table-2 shows the SGST and SGST portion of the IGST received/settled to the States/UTs in August, 2023.

Table-1: State-wise Y-o-Y growth of GST Revenue in August, 2023 [1] (Rs. In crore)

Table-2: Amount of SGST & SGST portion of IGST settled to States/UTs in August, 2023 (Rs. In crore)