The gross Goods and Services Tax, GST revenue collected in April this year is the highest ever at over Rs one lakh 87 thousand crores. Out of the total revenue, Central Goods and Service Tax, CGST is Rs 38 thousand 440 crore, State Goods and Service Tax, SGST is Rs 47 thousand 412 crore, Integrated Goods and Service Tax, IGST is Rs 89 thousand 158 crore and cess is over Rs 12 thousand crore.
The Finance Ministry said, the revenues for the month of April 2023 are 12 per cent higher than the GST revenues in the same month last year. It said, for the first time gross GST collection has crossed Rs one lakh 75 thousand crore mark.
During the month, the revenues from domestic transactions are 16 per cent higher than the revenues from these sources during the same month last year.
Prime Minister Narendra Modi has lauded the highest-ever GST collection. In a tweet, Mr Modi said, it is great news for the Indian economy. Replying to a Finance Ministry tweet, the Prime Minister said, rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.
WhatsApp us