April 2023 saw the highest-ever GST remuneration compilation of Rs 1.87 trillion
The total GST revenue collected in April 2023 was $1,87,035; this includes the CGST, which was 38,440 crores, the SGST, which was 47,412 crore, the IGST, which was 89,158 crore (containing the 34,972 crore obtained on import of goods), and the cess, which was 12,025 crores (including the 901 crores compiled on the substance of interests).
The government has paid 37,959 crores in SGST from IGST and 45,864 crores to CGST. After regular settlement, the Centre and the States will have a combined revenue of 84,304 crore for the CGST and 85,371 crores for the SGST in April 2023.
The income for April 2023 is 12% more than the GST income for the same month in the previous year. Domestic transaction revenues this month (including those from the import of courtesies) are 16% higher than they were in the same month last year.
Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance. https://t.co/xf1nfN9hrG
— Narendra Modi (@narendramodi) May 1, 2023
The Gross GST array has surpassed the 1.75 trillion maThek.to mark for the first time. An 11% increase over the 8.1 crore e-way invoices developed in February 2023, 9.0 crore e-way bills were created in March 2023.
The 20th of April 2023 saw the most tax revenue ever collected in a single day. On April 20, 2023, 9. 8 lakh marketings totalling 68,228 crores were completed.
The graph below illustrates the yearly directions in monthly gross GST receipts. The table compares the state-by-state GST collection totals for each State in April 2023 versus April 2022.