27.4 C
New York
Friday, June 14, 2024

Buy now

spot_img

Gross GST revenue collection at Rs 1.57 lakh cr for May 2023 showing 12% Year-on-Year growth

In May 2023, the total GST revenue collected reached ₹1,57,090 crore. The revenue was distributed as ₹28,411 crore for CGST, ₹35,828 crore for SGST, ₹81,363 crore for IGST (including ₹41,772 crore from the import of goods), and ₹11,489 crore as cess (including ₹1,057 crore from the import of goods).

The government settled ₹35,369 crore for CGST and ₹29,769 crore for SGST from the IGST funds. After this regular settlement, the total revenue for the Centre was ₹63,780 crore for CGST and ₹65,597 crore for SGST in May 2023.

Compared to the same month last year, the GST revenues for May 2023 showed a growth of 12%. The revenue from the import of goods increased by 12%, while the revenue from domestic transactions (including the import of services) grew by 11% compared to May 2022.

The following chart depicts the monthly trends in gross GST revenues for the current year. Additionally, the table presents the state-wise figures of GST collected in May 2023, comparing them to May 2022.

 

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles