As per the data released by the Union Ministry on May 1, a whopping Rs 1.87 lakh crore in Goods and Services Tax (GST) was collected by the government in the month of April. The GST collected in the month of April is an all-time high by a substantial margin at Rs 1.87 lakh crore as the movement has collected Rs 1.68 lakh crore in April 2022 which was the previous high. The GST collected last month is up 11.6 percent from that in April 2022. The gross GST collection in April 2023 is Rs 19,495 crore more than the next highest collection of April 2022.
Government collects all-time high GST in April 2023
The government’s revenue from GST has surged by 12 percent year-on-year to hit an all-time high at Rs 1.87 lakh crore in April, the union ministry stated in its data. The whopping collection has been led by a robust jump in collections in states like Uttar Pradesh, Maharashtra, Karnataka, and Haryana among others, the finance ministry added.
April GST collections include CGST (central goods and services tax) at Rs 38,440 crore; SGST (state goods and services tax) at Rs 47,412 crore; IGST (integrated goods and services tax) at Rs 89,158 crore (including Rs 34,972 crore collected on import no goods.)
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GST collection exceeds 1.75 trillion
For the first time, the total GST collection exceeded Rs. 1.75 trillion. The total amount of e-way bills generated in March 2023 was 9 crore, an increase of 11% above the 8.1 crore e-way bills produced in February 2023.
“The GST numbers are indicative of robust growth of the Indian economy, on the back of a strong pick-up in consumer demand,” said Ajay Singh, President of industry body ASSOCHAM.
“While collections have maintained a healthy 11-13 per cent growth in the recent months, a normalising base and some cooling of inflation may moderate the pace of expansion slightly in the coming quarter, although it would remain in the high single digits,” said Aditi Nayar, chief economist at ICRA.
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