GST collections rise 10% to Rs 1.64 lakh crore in December

The gross Goods and Services Tax, GST revenue collection in the month of December, 2023 stood at one lakh 64 thousand and 882 crore rupees. The revenue for month of December is 10.3 percent higher than the GST revenues in the same month last year.  

Finance Ministry in a statement said that out of the total GST revenue collected for the month, Central Goods and Services Tax, CGST collection is 30 thousand 443 crore rupees, State Goods and Services Tax, SGST is 37 thousand 935 crore rupees, Integrated Goods and Services Tax, IGST is around 84 thousand 255 crore rupees and and cess is 12 thousand 249 crore rupees.

 

The Ministry added that GST collection has witnessed a robust growth of 12



percent with the collection of 14.97 lakh crore rupees during the last nine months. During the same period in 2022, a total of 13.40 lakh crore rupees were collected.

According to the Finance Ministry, the average monthly gross GST collection of 1.66 lakh crore rupees were recorded in the first nine month of this fiscal year.

The Ministry said, the gross GST revenue collected in the last month is one lakh 64 thousand 882 crore rupees. The Ministry informed that the government has settled over 40 thousand crore rupees to central goods and services tax and over 33 thousand crore rupees to State Goods and Service Tax from Integrated Goods and Services Tax.