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India’s gross Goods and Services Tax (GST) revenue collection in the month of September stood at Rs 1,62,712 crore, registering a rise of 10 per cent on a year-on-year basis, the Ministry of Finance said on Sunday.
It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24.
GST collection had witnessed a similar annualised jump in August, at Rs 1.59 lakh crore.
Of the total gross GST revenue collected in September, CGST component was Rs 29,818 crore, SGST Rs 37,657 crore, IGST Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess Rs 11,613 crore (including Rs 881 crore collected on import of goods).
“The government has settled Rs 33,736 crore to CGST and Rs 27,578 crore to SGST from IGST. The total revenue of Centre and the States in the month of September, 2023 after regular settlement is Rs 63,555 crore for CGST and Rs 65,235 crore for the SGST,” the Finance Ministry said in a statement.
During the month, revenues from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year,the ministry added.
The gross GST collection for the first half of the FY 2023-24 ending September, 2023 (Rs 9,92,508 crore) was 11 per cent higher than the gross GST collection in the first half of FY 2022-23 (Rs 8,93,334 crore).
The average monthly gross collection in FY 2023-24 was Rs 1.65 lakh crore, 11 per cent higher than average monthly gross collection for the first half of FY 2022-23 where it was Rs 1.49 lakh crore.
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