GST assortment in October 2023.
The common gross month-to-month GST assortment in the FY 2023-24 now stands at Rs 1.66 lakh crore
GST collections in October 2023 jumped 13 per cent YoY to the touch its second-highest-ever assortment of Rs 1,72,003 crore, in keeping with the newest official knowledge launched on Wednesday, November 1. The highest month-to-month GST mop-ups had been recorded in April 2023 at Rs 1,87,035 crore.
“GST revenue collection for October 2023 is second-highest ever, next only to April 2023, at Rs 1.72 lakh crore,” the finance ministry stated in a press release.
The gross GST income for October 2023 is 13 per cent larger than that in the identical month final yr. During the month, income from home transactions (together with import of companies) can be 13 per cent larger than the revenues from these sources throughout the identical month final yr.
The common gross month-to-month GST assortment in the FY 2023-24 now stands at Rs 1.66 lakh crore and is 11 per cent greater than that in the identical interval in the earlier monetary yr.
The gross GST income collected in the month of October, 2023 is Rs 1,72,003 crore out of which Rs 30,062 crore is CGST, Rs 38,171 crore is SGST, Rs 91,315 crore (together with Rs 42,127 crore collected on import of products) is IGST and Rs 12,456 crore (together with Rs 1,294 crore collected on import of products) is cess.
The authorities has settled Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST. The whole income of Centre and the states in October 2023 after common settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.
