GST revenue climb to ₹1,60,122 crore in March

NEW DELHI: The gross GST revenue collected in the month of March 2023 is ₹1,60,122 crore, which is the highest IGST collection ever. Out of this CGST is ₹29,546 crore, SGST is ₹37,314 crore, IGST is ₹82,907 crore (including ₹42,503 crore collected on import of goods) and cess is ₹10,355 crore (including ₹960 crore collected on import of goods). It is for the fourth time, in the current financial year that the gross GST collection has crossed ₹1.5 lakh crore mark registering second highest collection since implementation of GST.

State-wise figures of GST collected in each state during the month of March 2023 as compared to March 2022:

The revenues for the month of March 2023 are 13% higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 8% higher and the revenues from domestic transaction (including import of services) are 14% higher than the revenues from these sources during the same month last year..

The total gross collection for 2022-23 stands at ₹18.10 lakh crore and the average gross monthly collection for the full year is ₹1.51 lakh crore. The gross revenues in 2022-23 were 22% higher than that last year.