NEW DELHI: India’s goods and services tax (GST) revenue collection in January exceeded Rs 1.50 lakh crore mark for the third time in the current financial year at Rs 1.55 lakh crore.
The monthly revenue collection rose 12% on yearly basis as last year GST collection was reported at Rs 1.38 lakh crore. Meanwhile, revenue in the current financial year up to January 2023 was 24% higher than the GST revenues during the same period last year.
The GST collection in January is the second highest, next only to the collection in April 2022. “The revenues for this period from import of good are 29% higher and from domestic transactions (including import of services) are 22% higher than the revenues from these sources for the same period last year,” the statement said.
Of the total GST collection of Rs 1.55 lakh crore, CGST is Rs 28,963 crore and SGST is Rs 36,730 crore, IGST is Rs 79,599 crore and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods).