The central government on Tuesday authorised release of tax devolution of Rs 72,961.21 crore to states for November. The Union finance ministry in a statement on Tuesday said, "The Union Government has authorised the release of tax devolution of Re 72,961.21 crore to State Governments for the month of November 2023, on 7th November instead of the usual date 10th November."
According to the release, this will enable the state governments to make in-time releases and add to the festivities and celebrations among the people.
Currently, 41 per cent of taxes collected by the Centre is devolved in 14 instalments among states during a fiscal year.
State-wise distribution of net proceeds of Union taxes and duties for November, 2023
|
Sl. No |
Name of State |
Total (₹ crore) |
|
1 |
ANDHRA PRADESH |
2952.74 |
|
2 |
ARUNACHAL PRADESH |
1281.93 |
|
3 |
ASSAM |
2282.24 |
|
4 |
BIHAR |
7338.44 |
|
5 |
CHHATTISGARH |
2485.79 |
|
6 |
GOA |
281.63 |
|
7 |
GUJARAT |
2537.59 |
|
8 |
HARYANA |
797.47 |
|
9 |
HIMACHAL PRADESH |
605.57 |
|
10 |
JHARKHAND |
2412.83 |
|
11 |
KARNATAKA |
2660.88 |
|
12 |
KERALA |
1404.50 |
|
13 |
MADHYA PRADESH |
5727.44 |
|
14 |
MAHARASHTRA |
4608.96 |
|
15 |
MANIPUR |
522.41 |
|
16 |
MEGHALAYA |
559.61 |
|
17 |
MIZORAM |
364.80 |
|
18 |
NAGALAND |
415.15 |
|
19 |
ODISHA |
3303.69 |
|
20 |
PUNJAB |
1318.40 |
|
21 |
RAJASTHAN |
4396.64 |
|
22 |
SIKKIM |
283.10 |
|
23 |
TAMIL NADU |
2976.10 |
|
24 |
TELANGANA |
1533.64 |
|
25 |
TRIPURA |
516.56 |
|
26 |
UTTAR PRADESH |
13088.51 |
|
27 |
UTTARAKHAND |
815.71 |
|
28 |
WEST BENGAL |
5488.88 |
|
|
Grand Total |
72961.21 |
The goods and services tax (GST) collections in October climbed to at Rs 1.72 lakh crore, the second highest-ever, according to the finance ministry release on November 1. The GST collections are 13 per cent higher than the Rs 1.52 lakh crore collected in October in the year-ago period.
The average gross monthly GST collection in the FY23-24 now stands at Rs 1.66 lakh crore, 11 per cent higher than the year-ago period. The average gross monthly GST collection in the current fiscal has also shown an 11 per cent growth year-on-year at Rs 1.66 lakh crore.
During October, revenue from domestic transactions was 13 per cent higher year-on-year. The gross GST revenue collected in October 2023 is Rs 1,72,003 crore, out of which Rs 30,062 crore is Central GST, Rs 38,171 crore is State GST, Rs 91,315 crore (including Rs 42,127 crore collected on import of goods) is Integrated GST, and Rs 12,456 crore (including Rs 1,294 crore collected on import of goods) is cess.
The government has settled Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST. The total revenue of the Centre and states in October after regular settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.