March 2023 sees second highest GST collection of ₹1.6 lakh crore
1 year, 8 months ago

March 2023 sees second highest GST collection of ₹1.6 lakh crore

The Hindu  

India’s Goods and Services Tax revenues grew 13% in March, to record the second highest monthly collections of ₹1.6 lakh crore from the indirect tax, with receipts from goods imports rising 8% and inflows from domestic transactions and services imports rising 14% from a year ago. Gross GST collections for 2022-23 are 22% higher than in 2021-22 at ₹18.1 lakh crore, reflecting an average gross monthly collection of almost ₹1.51 lakh crore. The growth in GST collections in March was the fastest so far in 2023, marking the 12th month in a row that inflows were over ₹1.4 lakh crore and the fourth month in 2022-23 over the ₹1.5 lakh crore mark. Rising compliance Integrated GST collections hit a record high of ₹82,907 crore in March 2023, including ₹42,503 crore collected on the import of goods.

History of this topic

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