GST mop-up rises 10% YoY in September to Rs 1.63 lakh crore

New Delhi, Oct 1 (UNI) Goods and services tax (GST) collection rose 10% year-on-year (YoY) to Rs 1,62,712 crore crore in September 2023, according to data released by Finance Ministry on Sunday.

“The gross GST revenue collected in the month of September, 2023 is Rs 1,62,712 crore out of which CGST is Rs 29,818 crore, SGST is Rs 37,657 crore, IGST is Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess is Rs 11,613 crore (including Rs 881 crore collected on import of goods),” Finance Ministry said in a press release.

The total revenue of Centre and the States in the month of September, 2023 after regular settlement were Rs 63,555 crore for CGST and Rs 65,235 crore for the SGST.

During September, the revenues from domestic transactions (including import of services) were 14% higher than the revenues from these sources during the same month last year. It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in financial year 2023-24.

At Rs 9,92,508 crore, the gross GST collection for the first half of FY 2023-24 ending September, 2023 stood 11% higher than the gross GST collection in the first half of FY 2022-23.

“The average monthly gross collection in FY 2023-24 is Rs 1.65 lakh crore, which is 11% higher than average monthly gross collection for first half of FY 2022-23 when it was Rs 1.49 lakh crore,” Finance Ministry said.

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