GST mop-up rises 2.2% to `1.63 trn in September
It’s is for 4th time that gross GST collection crossed Rs1.60 lakh cr mark in FY24
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Indirect Tax Kitty
♦ Gross GST collection for H1/FY24 was Rs9,92,508 cr is 11% higher than Rs8,93,334 cr in H1/FY23
♦ CGST was Rs63,555 cr
♦ SGST was Rs65,235 cr
♦ Integrated GST was Rs83,623 cr
♦ Consistent rise in J&K, Manipur, Arunachal Pradesh and Ladakh
The gross GST revenue for September rose 2.2 per cent to Rs1,62,712 crore from Rs1,59,069 crore in August. Out of the Rs1,62,712 crore GST collections for September, CGST was Rs29,818 crore, SGST was Rs37,657 crore, IGST was Rs83,623 crore (including Rs41,145 crore collected on import of goods) and Cess was Rs11,613 crore (including Rs881 crore collected on import of goods). The government settled Rs33,736 crore to CGST and Rs27,578 crore to SGST from IGST.
The total revenue of Centre and the States in September after regular settlement was Rs63,555 crore for CGST and Rs65,235 crore for the SGST.
It is for the fourth time that the gross GST collection has crossed Rs1.60 lakh crore mark in 2023-24. The gross GST collection for the first half of 2023-24 ending September (Rs9,92,508 crore) is 11 per cent higher than the gross GST collection in the first half of 2022-23 (Rs8,93,334 crore).
The revenue in September 2023 was 10 per cent higher than the GST revenue of Rs 1.47 lakh crore in the same month last year, the finance ministry said in a statement.
