GST Collections Cross ₹1.4 Lakh Cr For 7th Straight Month, Up 26% In Sept

Mumbai: The gross GST revenue collection in September surged by 26% to ₹1,47,686 crore, Finance Ministry said. This is the seventh month in a row that the monthly GST revenues have crossed the ₹1.4 lakh crore mark.

“The gross GST income gathered in the long stretch of September 2022 is Rs 1,47,686 crore, of which CGST is Rs 25,271 crore, SGST is Rs 31,813 crore, IGST is Rs 80,464 crore (counting Rs 41,215 crore gathered on import of merchandise) and cess is Rs 10,137 crore (counting Rs 856 crore gathered on import of products),” the money service said in a proclamation on Saturday.

The complete income of the Middle states after customary settlements in September 2022 remained at Rs 57,151 crore for CGST and Rs 59,216 crore for the SGST. The public authority has settled Rs 31,880 crore to CGST and Rs 27,403 crore to SGST from IGST as a normal settlement, as per the assertion.

Abhishek Jain, accomplice (backhanded charge) at KPMG in India was quoted by News18 saying, “For the current month, the GST assortments have again crossed the Rs 1.4-lakh-crore mark, and is 26% higher than that of the assortments same month last year. It is critical that these assortments reflect supplies made in August. With the merry season coming up, the GST assortments can be anticipated to go up additional before long.”

The money service expressed that during September, incomes from the import of products were 39% higher, and the incomes from homegrown exchanges (counting import of administrations) were 22% more than the incomes from these sources during that very month last year.

“This is the eighth month and for the seventh month in a row now, that the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark. The growth in GST revenue till September 2022 over the same period last year is 27 per cent, continuing to display very high buoyancy,” it added.

Around 7.7 crore e-way charges were produced in August 2022, which was possibly higher than 7.5 crores in July 2022.

“This month (September) saw the second-most noteworthy single-day assortment of Rs 49,453 crore on September 20 with the second-largest number of 8.77 lakh challans recorded, next just to Rs 57,846 crore gathered on July 20, 2022, through 9.58 lakh challans, which related to year’s end returns,” it said.

The ministry also said it shows that the GST portal maintained by GSTN has “fully stabilised and is glitch-free”. September also saw another milestone getting crossed when more than 1.1 crore e-way bills and e-invoices, combined (72.94 lakh e-invoices and 37.74 lakh e-way bills), were generated without any glitch on the portal run by NIC on September 30, 2022.

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