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India’s Gross GST Revenue At Rs 1,51,718 Crore

Picture Source: Internet

The gross GST revenue collected in October 2022 is Rs 1,51,718 crore of which CGST is Rs 26,039 crore, SGST, is Rs  33,396 crore, IGST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods) plus Cess is Rs 10,505 crore (includes Rs 825 crore collected on import of goods), which is second highest till date. 

The government has settled Rs 37,626 crore to CGST and Rs 32,883 crore to SGST from IGST. Additionally, the centre has also settled Rs 22,000 crore on an Adhoc basis in fifty per cent between the Centre and States government. The total revenue of the Centre and the States after regular and Adhoc settlements in October is Rs 74,665 crore for CGST and Rs 77,279 crore for the SGST.

During October 2022, the revenue is the second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.5 lakh crore mark. Also, October has the second-highest collection from domestic transactions. This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark. 

Last month, 8.3 crore electronic bills were generated, which was significantly higher than the 7.7 crore e-way bills generated in August 2022.

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