The gross GST collection for the month of March included CGST of Rs 29,546 crore, SGST of Rs 37,314 crore and IGST of Rs 82,907 crore, which included Rs 42,503 crore collected on import of goods.
The Goods and Services Tax (GST) collection in India grew 13 per cent to over Rs 1.60 lakh crore in the month of March, a statement issued by the Finance Ministry stated on Saturday.
The gross GST collection for the month of March included CGST of Rs 29,546 crore, SGST of Rs 37,314 crore and record IGST of Rs 82,907 crore, which included Rs 42,503 crore collected on import of goods. The total cess collected was Rs 10,355 crore, which included Rs 960 crore collected on the import of goods, the government said in a statement.
This is for the fourth time in the financial year 2022-23 that the gross GST collection crossed Rs 1.5 lakh crore. The March collection was the second-highest collection ever to date.
This month witnessed the highest IGST collection ever. During the month, revenues from the import of goods were 8 per cent higher and the revenues from the domestic transaction, which included the import of services, are 14 per cent higher than the revenues from these sources during the same month last year.
As per the ministry note, returns filed in the month of March surged to a record high. About 93.2 per cent of statements of invoices in GSTR-1 and 91.4 per cent of returns (in GSTR-3B) of February were filed till March 2023 as compared to 83.1 per cent and 84.7 per cent, respectively same month in 2022, the statement added.
Gross GST collection in the last fiscal year rose 22 per cent on year to Rs 18.10 lakh crore and the average gross monthly collection for the full year was Rs 1.51 lakh crore.
The gross revenues in 2022-23 were 22 per cent higher than that last year. The average monthly gross GST collection for the last quarter of the FY 2022-23 has been Rs 1.55 lakh crore against the average monthly collection of Rs 1.51 lakh crore, Rs 1.46 lakh crore and Rs 1.49 lakh crore in the first, second, and third quarters, respectively.
Statewise collection
As many as 16 States and the erstwhile State of Jammu and Kashmir reported higher growth from domestic transactions during the month of March than the national average of 14.4 per cent. Karnataka (18.4 per cent), Uttar Pradesh, Rajasthan, Odisha and Tamil Nadu (around 15 per cent), Bihar and J&K (29.4 per cent).
Among the other States, the lowest growth rate was recorded in Himachal Pradesh (8.1 per cent) and Gujarat (8.3 per cent).
Revenues from Andhra Pradesh were up 11.3 per cent, with Maharashtra (11.8 per cent), Kerala (12.7 per cent) and Telangana (13.25 per cent), and West Bengal (13.9 per cent) recording higher growth.
In March, New Delhi settled Rs 33,408 crore to CGST and Rs 28,187 crore to SGST from IGST as regular settlement.
