GST collections rise 26 pc to over 1.47 lakh crore in September

In September, Goods and Services Tax collections rose 26 per cent to over 1.47 lakh crore as compared to the same month last year, the Finance Ministry said on Saturday. It said that GST revenues have been over 1.40 lakh crore for the last seven months in a row.

The gross GST revenue collected in September 2022 is Rs 1,47, 686 crores, of which Central GST CGST is Rs 25,271 crore, State GST SGST is Rs 31,813 crore and the Integrated GST IGST is Rs 80,464 crore, including Rs 41,215 crore collected on import of goods, the ministry said in a statement. The amount of cess is Rs 10,137 crore, including Rs 856 crore on import of goods it further added.

The government has also settled Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST as regular settlement. The total revenue of the Centre and states after regular settlements in September 2022 is 57,151 crore for the CGST and 59,216 crore for the SGST.

Revenues from import of goods were 39 per cent higher in September 2022, and revenues from domestic transactions, including import of services, are 22 per cent higher than revenues from these sources during the same month last year.

The Finance Ministry estimates that September 2022 is the eighth month and for the seventh month in a row, the monthly GST revenues have been more than the Rs 1.4 lakh crore mark.

The growth in GST revenue over the same period last year is 27 per cent, continuing to display high buoyancy. Around 7.7 crore e-way bills were generated in August 2022, which was marginally higher than 7.5 crore in July 2022.

September 2022 saw the second highest single-day collection of Rs 49,453 crore on September 20, with the second highest number of 8.77 lakh challans filed. The highest single-day collection of Rs 57,846 crore was collected on July 20, 2022, through 9.58 lakh challans, which pertained to end-of-the-year returns.

The Finance Ministry said that the GST portal maintained by GSTN has fully stabilised and is glitch-free.

September saw another milestone when more than 1.1 crore e- bills and e-invoices, together 72.94 lakh e-invoices and 37.74 lakh e-way bills were generated without any glitches on the portal run by NIC on September 30th, 2022.