New Delhi, Jan 31 (Agency) The gross goods and services tax (GST) collection rose 10.59% year-on-year to Rs 1.55 lakh crore in January 2023 on the back of robust economic recovery and higher compliance. “The gross GST revenue collected in the month of January 2023 till 5:00 PM on 31.01.2023 is Rs 1,55,922 crore of which CGST is Rs 28,963 crore, SGST is Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods),” said a statement from Finance Ministry.
The statement said that revenues in the current financial year upto January 2023 are 24% higher than the GST revenues during the same period last year. The Finance Ministry said that this is for the third time in the current financial year that the monthly GST collection has crossed Rs 1.50 lakh crore mark. “The GST collection in January 2023 is the second highest next only to the collection reported in April 2022. During the month of December 2022, 8.3 crore e-way bills were generated, which is the highest so far and it was significantly higher than 7.9 crore e-way bills generated in November 2022,” it said.