The Ministry of Finance in its latest data has showed that the gross goods and services tax (GST) revenue collected in the month of June, 2023 stood at Rs 1,61,497 crore, registering a rise of 11.67 per cent over Rs 1,44,616 crore in the month of June, 2022. The gross GST collection has crossed Rs 1.60 lakh crore mark for the fourth time since the roll-out of the indirect tax regime six years ago on July 1, 2017.
Out of the total GST collection, Central GST (CGST) is Rs 31,013 crore, State GST (SGST) is Rs 38,292 crore, Integrated GST (IGST) is Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess is Rs 11,900 crore (including Rs 1,028 crore collected on import of goods).
Besides, the government has settled Rs 36,224 crore to CGST and Rs 30269 crore to SGST from IGST. The total revenue of Centre and the States in the month of June 2023 after regular settlement is Rs 67,237 crore for CGST and Rs 68,561 crore for the SGST.
During the month, the revenues from domestic transactions (including import of services) are 18% higher than the revenues from these sources during the same month last year. The average monthly gross GST collection for the first quarter of the FY 2021-22, FY 22-23 & FY 23-24 are Rs. 1.10 lakh crore, Rs. 1.51 lakh crore and Rs. 1.69 lakh crore respectively.
