GST Collection In September: It is the seventh month in a row that the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark
The gross GST revenue collection in September jumped 26 per cent to Rs 1,47,686 crore, according to an official statement. This is the eighth month overall and the seventh month in a row that the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark.
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“The gross GST revenue collected in the month of September 2022 is Rs 1,47,686 crore, of which CGST is Rs 25,271 crore, SGST is Rs 31,813 crore, IGST is Rs 80,464 crore (including Rs 41,215 crore collected on import of goods) and cess is Rs 10,137 crore (including Rs 856 crore collected on import of goods),” the finance ministry said in a statement on Saturday.
The total revenue of the Centre and states after regular settlements in September 2022 stood at Rs 57,151 crore for CGST and Rs 59,216 crore for the SGST. The government has settled Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST as a regular settlement, according to the statement.
Abhishek Jain, partner (indirect tax) at KPMG in India, said, “This month, the GST collections have again crossed the Rs 1.4-lakh-crore mark, and is 26 per cent higher than that of the collections same month last year. It is noteworthy that these collections reflect supplies made in August. With the festive season coming up, the GST collections can be expected to go up further in the coming months.”
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The finance ministry said that during September, revenues from the import of goods were 39 per cent higher, and the revenues from domestic transactions (including import of services) were 22 per cent more than the revenues from these sources during the same month last year.
“This is the eighth month and for seventh months in a row now, that the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark. The growth in GST revenue till September 2022 over the same period last year is 27 per cent, continuing to display very high buoyancy,” it added.
About 7.7 crore e-way bills were generated in August 2022, which was marginally higher than 7.5 crore in July 2022.
“This month (September) witnessed 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, next only to Rs 57,846 crore collected on July 20, 2022, through 9.58 lakh challans, which pertained to end of the year returns,” it said.
The ministry also said it shows that the GST portal maintained by GSTN has “fully stabilised and is glitch-free”. September also saw another milestone getting crossed when more than 1.1 crore e-way bills and e-invoices, combined (72.94 lakh e-invoices and 37.74 lakh e-way bills), were generated without any glitch on the portal run by NIC on September 30, 2022.
