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GST Collections In September Jump 26% To Rs 1.47 Lakh Crore

GST Collections In September Jump 26% To Rs 1.47 Lakh Crore

The gross GST revenue collection in September jumped 26 per cent to Rs 1,47,686 crore, according to an official statement. This is the eighth month overall and seventh month in a row that the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark.

“The gross GST revenue collected in the month of September 2022 is Rs 1,47,686 crore, of which CGST is Rs 25,271 crore, SGST is Rs 31,813 crore, IGST is Rs 80,464 crore (including Rs 41,215 crore collected on import of goods) and cess is Rs 10,137 crore (including Rs 856 crore collected on import of goods),” the finance ministry said in a statement on Saturday.

The total revenue of the Centre and states after regular settlements in September 2022 stood at Rs 57,151 crore for CGST and Rs 59,216 crore for the SGST. The government has settled Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST as a regular settlement, according to the statement.

Abhishek Jain, partner (indirect tax) at KPMG in India, said, “This month, the GST collections have again crossed the Rs 1.4-lakh-crore mark, and is 26 per cent higher than that of the collections same month last year. It is noteworthy that these collections reflect supplies made in August. With the festive season coming up, the GST collections can further be expected to go up in the coming months.”

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