Gross GST collection crosses ₹1.6 lakh crore marks for 4th time

     New Delhi, July 01, 2023: The government of India has achieved a record ₹ 1,61,497 crore gross GST revenue collection for June 2023, which is again records 12 per cent Year-on-Year growth.

     Gross GST collection of India also crossed ₹1.6 lakh crore mark for the 4th time since inception of GST; official sources said adding the collection has crossed ₹1.4 lakh crore for 16 months in a row; and ₹1.5 lakh 7th times since inception.
     The Average monthly gross GST collection for Quarter 1 of Financial year 2021-22 is ₹ 1.10 lakh crore; for FY2022-23 is ₹1.51 lakh crore; and for FY2023-24 is ₹1.69 lakh crore, respectively.

     Giving details the sources said, the gross GST revenue collected in the month of June, 2023 was ₹1,61,497 crore, of which CGST is ₹31,013 crore, SGST is ₹38,292 crore, IGST is ₹80,292 crore (including ₹ 39,035 crore collected on import of goods) and cess is ₹11,900 crore (including ₹ 1,028 crore collected on import of goods).

     The government has settled ₹36,224 crore to CGST and ₹30269 crore to SGST from IGST.

     The total revenue of Centre and the States in the month of June 2023 after regular settlement is ₹67,237 crore for CGST and ₹68,561 crore for the SGST, they added.

     The revenues for the month of June 2023 are 12 per cent higher than the GST revenues in the same month last year.

     During the month, the revenues from domestic transactions (including import of services) are 18 per cent higher than the revenues from these sources during the same month last year.

     It is for the fourth time, the gross GST collection has crossed Rs. 1.60 lakh crore mark.