NEW DELHI: GST collection in April rose by 12 per cent annually to over Rs 1.87 lakh crore, touching an all-time monthly high.
The previous monthly high Goods and Services Tax (GST) collection was in April 2022 at about Rs 1.68 lakh crore, national dailies reported on May 2, quoting finance ministry data.
Hailing the record GST collection, Prime Minister Narendra Modi in a tweet said, “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.”
The gross GST revenue collected in the month of April 2023 is Rs 1,87,035 crore of which CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore (including Rs 901 crore collected on import of goods).
The revenues for April 2023 are 12 per cent higher than the GST revenues in the same month last year.
The total gross collection for the 2022-23 fiscal stood at Rs 18.10 lakh crore, 22 per cent higher than the previous year.
GST came into force on July 1, 2017, subsuming a plethora of indirect taxes.
