India’s GST revenues grow 15 per cent to nearly Rs 1.50 lakh crore in December

NEW DELHI: The collections from Goods and Services Tax (GST) grew by 15 per cent to over Rs 1.49 lakh crore in December 2022, indicating improved manufacturing output and consumption demand, besides better compliance.

This is the 10th month in a row that the revenues have remained above the Rs 1.4 lakh crore mark. The collection in November was about Rs 1.46 lakh crore. “The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods),” the India’s finance ministry said in a statement.

The revenues for December 2022 are 15 per cent higher than the GST collection in the same month last year, which itself was close to Rs 1.30 lakh crore. During the month, revenues from the import of goods were 8 per cent higher, and the revenues from the domestic transaction (including the import of services) are 18 per cent more than the revenues from these sources during the same month last year.

In November 2022, 7.9 crore e-way bills were generated, which was significantly higher than the 7.6 crore e-way bill issued in October 2022.

Deloitte India Partner MS Mani said, “An 18 per cent increase in the GST revenues from domestic transactions viewed with the increase in e-way bill issuance and the significant increase in GST collections by key manufacturer and consuming states, would be indicative of a sustained manufacturing and consumption cycle across recent months”.

NA Shah Associates Partner Parag Mehta said the tax authorities have been able to track down tax evaders/non-compliers with the assistance of a strong GSTN platform. “Normally, even the trend shows more collections in the last 3-4 months due to the department becoming more aggressive and the business trying to achieve their budgeted targets,” Mehta added.

KPMG Partner Indirect Tax Abhishek Jain said Rs 1.5 lakh crore monthly collection seems to be the new normal even after peak festive sales are over. Revenues from GST touched a record of about Rs 1.68 lakh crore in April. In May, the collection was about Rs 1.41 lakh crore, June (Rs 1.45 lakh crore), July (Rs 1.49 lakh crore), August (Rs 1.44 lakh crore), September (Rs 1.48 lakh crore), October (Rs 1.52 lakh crore), November (Rs 1.46 lakh crore) and December (Rs 1.49 lakh crore).

 

State-wise growth of GST Revenues (Rs crore) during December 2022[1]

  State Dec-21 Dec-22 Growth
1 Jammu and Kashmir 320 410 28%
2 Himachal Pradesh 662 708 7%
3 Punjab 1,573 1,734 10%
4 Chandigarh 164 218 33%
5 Uttarakhand 1,077 1,253 16%
6 Haryana 5,873 6,678 14%
7 Delhi 3,754 4,401 17%
8 Rajasthan 3,058 3,789 24%
9 Uttar Pradesh 6,029 7,178 19%
10 Bihar 963 1,309 36%
11 Sikkim 249 290 17%
12 Arunachal Pradesh 53 67 27%
13 Nagaland 34 44 30%
14 Manipur 48 46 -5%
15 Mizoram 20 23 16%
16 Tripura 68 78 15%
17 Meghalaya 149 171 15%
18 Assam 1,015 1,150 13%
19 West Bengal 3,707 4,583 24%
20 Jharkhand 2,206 2,536 15%
21 Odisha 4,080 3,854 -6%
22 Chhattisgarh 2,582 2,585 0%
23 Madhya Pradesh 2,533 3,079 22%
24 Gujarat 7,336 9,238 26%
25 Daman and Diu 2 -86%
26 Dadra and Nagar Haveli 232 317 37%
27 Maharashtra 19,592 23,598 20%
29 Karnataka 8,335 10,061 21%
30 Goa 592 460 -22%
31 Lakshadweep 1 1 -36%
32 Kerala 1,895 2,185 15%
33 Tamil Nadu 6,635 8,324 25%
34 Puducherry 147 192 30%
35 Andaman and Nicobar Islands 26 21 -19%
36 Telangana 3,760 4,178 11%
37 Andhra Pradesh 2,532 3,182 26%
38 Ladakh 15 26 68%
97 Other Territory 140 249 78%
99 Center Jurisdiction 186 179 -4%
  Grand Total 91,639 1,08,394 18%

 

With Press Trust of India Inputs

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