GST Collection GST collection of Rs 1.64 lakh crore in December, increased by 10%
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The Central Government has released the GST collection figures for the month of December on the very first day of the year. According to these figures, the total GST collection in December was Rs 1.64 lakh crore. These figures have come out in the report of the Finance Ministry. Along with this figure, an increase of 10 percent has also been seen in the annual collection for the year 2023.
Earlier in the year 2022, the government had collected Rs 1.50 lakh crore. Although these figures may be good at the annual level, if we look at the figures of the last three months, the GST collection has been the lowest in the month of December. Earlier, during November 2023, GST collection was Rs 1.68 lakh crore. In October this figure was Rs 1.72 lakh crore. That means GST collection has come down for the third consecutive time in the month of December.
According to the data, GST collection in the same period a year ago was Rs 1.49 lakh crore. According to the statement of the ministry, the gross GST collection during April-December 2023 has reached 12 percent. Strength has been seen in this. This figure has reached Rs 14.97 lakh crore. Whereas in the year 2022, this figure was Rs 13.40 lakh crore.
Thus, the average monthly tax collection in the first nine months of the financial year 2023-24 has been Rs 1.66 lakh crore. This is 12 percent more than the average tax collection of Rs 1.49 lakh crore recorded in the same period of the previous financial year 2022-23.
“Gross GST revenue collected in December is Rs 1,64,882 crore, of which CGST is Rs 30,443 crore, SGST is Rs 37,935 crore, IGST is Rs 84,255 crore (including Rs 41,534 crore collected on import of goods),” the ministry said in a statement. Apart from this, Rs 12,249 crore has been collected as cess (including Rs 1,079 crore collected on import of goods). The special thing is that December is the seventh month of this year in which GST collection of more than Rs 1.60 lakh crore has been done.
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