This is the third time, GST collection has crossed Rs 1.50 lakh crore in the current financial year
New Delhi:
The Finance Ministry on Tuesday said that the GST collection in January increased to over Rs 1.55 lakh crore, the second highest ever.
“Gross GST revenue in the month of January 2023 up to 5:00 PM on 31.01.2023 is Rs 1,55,922 crore, including CGST Rs 28,963 crore, SGST Rs 36,730 crore, IGST Rs 79,599 crore (including Rs 37,118 crore goods) 10,630 crore (including Rs 768 crore collected on import of goods) and cess is Rs 10,630 crore,” the ministry said in a statement.
The revenue in the current financial year till January 2023 is 24 percent more than the GST revenue of the same period last year.
This is the third time, the GST collection has crossed the Rs 1.50 lakh crore mark in the current financial year. The GST collection in January 2023 is the second highest after the gross mop-up of Rs 1.68 lakh crore reported in April 2022.
“During the last year, various efforts have been made to widen the tax base and improve compliance. The percentage of filing of GST Return (GSTR-3B) and Invoice Statement (GSTR-1) by the end of the month, has increased significantly over the years. There has been improvement,” the ministry said.
A total of 2.42 crore GST returns were filed till the end of next month in the October-December 2022 quarter, as against 2.19 crore in the same quarter last year. This is on account of various policy changes introduced during the year to improve compliance.
(This story has not been edited by NDTV staff and was auto-generated from a syndicated feed.)
featured video of the day
Expectations of industry experts from Budget 2023