Mokokchung, 01 October (MTNews): The central and state governments collectively garnered a total of Rs 1.62 lakh crore in Goods and Services Tax (GST) during the month of September 2023. The gross GST collection surged by 10 percent, surpassing the Rs 1.6 lakh crore mark for the fourth time in the current financial year.
The gross GST revenue collected last month amounted to Rs 1,62,712 crore. Of this, Central GST accounted for Rs 29,818 crore, State GST for Rs 37,657 crore, Integrated GST for Rs 83,623 crore (including Rs 41,145 crore collected on the import of goods), and cess for Rs 11,613 crore (including Rs 881 crore collected on the import of goods). This information was disclosed by the Finance Ministry on Sunday.
According to the Finance Ministry’s statement, the revenue in September 2023 was 10 percent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year.
“The gross GST collection for the first half of FY 2023-24 ending in September 2023 [Rs 9,92,508 crore] is 11 percent higher than the gross GST collection in the first half of FY 2022-23 [Rs 8,93,334 crore]. The average monthly gross collection in FY 2023-24 is Rs 1.65 lakh crore, which is 11 percent higher than the average monthly gross collection for the first half of FY 2022-23, where it stood at Rs 1.49 lakh crore,” it stated.
Meanwhile, Nagaland experienced a 5 percent growth, with GST collection in September 2023 amounting to Rs 53 crore, compared to Rs 49 crore in September 2022. Additionally, the SGST (State Goods and Services Tax) portion of the IGST (Integrated Goods and Services Tax) settled to the state of Nagaland from April-September 2023 amounted to Rs 539 crore, marking a 14 percent increase from last year’s Rs 474 crore during the same period.