The Business Bytes
TBB BUREAU
NEW DELHI, JAN 1, 2023
Driven by increase in retail prices of consumption items, high inflation, and action taken to ensure compliance, the gross goods and services tax (GST) collection for December 2022 stood at Rs 1,49,507 crore, registering a year-on-year surge of 15 per cent, the data released by the Finance Ministry showed. The GST revenue collection in December 2021 was Rs 1,29,780 crore.
This is the tenth month in a row that monthly GST revenue has been more than Rs 1.4 lakh crore, the ministry said on Sunday while releasing the data.
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 government has settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as regular settlement.
The total revenue of the Centre and the states after regular settlements in December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.
During the month, revenues from imports of goods were 8 per cent higher and those from domestic transactions (including imports of services) were 18 per cent higher than those from these sources during the same month last year, the ministry said.
During the month of November, 2022, 7.9 crore e-way bills were generated, which was significantly higher than 7.6 crore e-way bills generated in October, 2022.
