Rs 1.6 lakh crore, GST mop-up in March 2nd highest ever

New Delhi, April 1

The gross GST revenue collection in March this year stood at Rs 1.60 lakh crore, the mop-up having crossed the Rs 1.5 lakh-crore-mark for the fourth time in the financial year 2022-23. This is also the second highest collection since the GST was implemented, stated an official release. The collections in February stood at Rs 1.49 lakh.

Of the Rs 1.60 lakh crore, Integrated Goods and Services Tax (IGST), one of the three components of GST, was Rs 82,907 crore, which was the highest IGST collection ever under this head. However, it was powered by Rs 42,503 crore collected on import of goods. The Central Goods and Services Tax (CGST) is Rs 29,546 crore and the State Goods and Services Tax (SGST) is Rs 37,314 crore. In addition, the cess is Rs 10,355 crore, most of it—Rs 960 crore—collected on import of goods.

The total gross GST collection for 2022-23 stands at Rs 18.10 lakh crore and the average gross monthly collection for the full year is Rs 1.51 lakh crore. The gross revenues in 2022-23 were 22 per cent higher than last year. The average monthly gross GST collection for the last quarter of 2022-23 has been Rs 1.55 lakh crore against the average monthly collection of Rs 1.51 lakh crore, Rs 1.46 lakh crore and Rs 1.49 lakh crore in the first, second and third quarters, respectively. In the northern region, Haryana recorded the highest collection of Rs 7,780 crore in March.