PM Modi lauds highest-ever GST collection in April 2023
2 May, 2023 | Vaishali Sharma
Prime Minister Narendra Modi hailed the highest-ever GST revenue collection for April 2023, at Rs 1.87 lakh crore, "great news for the Indian economy."
Prime Minister Narendra Modi hailed the highest-ever GST revenue collection for April 2023, at Rs 1.87 lakh crore, “great news for the Indian economy.”
“Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance,” tweeted PM Modi. The gross GST collection in April 2023 is an all-time high of Rs 1,87,035 crore, Rs 19,495 crore more than the next highest collection of Rs 1,67,540 crore in April 2022.
GST revenues for April 2023 are 12% more than GST receipts for the same month last year. On April 20, 2023, the most tax collected in a single day was Rs 68,228 crore from 9.8 lakh transactions.
CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods), and cess is Rs 12,025 crore (including Rs 901 crore received on import of goods) of the GST income collected in April.
From IGST, the government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST.
The total revenue of the Centre and the States in the month of April 2023 after the regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST.
“The revenues for April 2023 are 12 per cent higher than the GST revenues in the same month last year,” a Finance Ministry release said.
Domestic transaction revenues (including service imports) increased by 16% during the month compared to the same month last year.
Gross GST collection has surpassed Rs 1.75 lakh crore for the first time.
The total number of e-way bills issued in March 2023 was 9.0 crore, which is 11% more than the 8.1 crore e-way bills generated in February 2023.