GST Collections Jump 11 Per Cent YoY To Rs 1.59 Lakh Crore In August

Revenues from domestic transactions (including import of services) are 14 per cent higher YoY, the finance ministry said

According to the 2023-24 Budget, the Centre expected its GST collections to rise by 12 per cent in the current financial year. ( Image Source :Getty )

The Goods and Services Tax (GST) collections jumped 10.8 per cent year-on-year (YoY) in August to Rs 1.59 lakh crore, the Ministry of Finance said on Friday. At Rs 1.59 lakh crore, the August GST collections is 3.7 per cent lower than the Rs 1.65 lakh crore collected in July and is the sixth month in a row that the monthly mop-up has come in above the Rs 1.5-lakh-crore mark. Revenues from domestic transactions (including import of services) are 14 per cent higher YoY, the finance ministry said.

This is the sixth-month in a row that the monthly GST mop-up has come in above the Rs 1.5 lakh crore-mark. According to the 2023-24 Budget, the Centre expected its GST collections to rise by 12 per cent in the current financial year.

According to the release by the ministry, the government has settled Rs 37,581 crore to CGST and Rs 31,408 crore to SGST from IGST. The total revenue of Centre and the states in August after regular settlement is Rs 65,909 crore for CGST and Rs 67,202 crore for the SGST.

The revenues for the month of August, 2023 are 11 per cent higher than the GST revenues in the same month last year.

During the month, revenue from import of goods was 3 per cent higher and the revenues from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year.

 State-wise YoY growth of GST revenue in August (In Rs crore)

State/UT	August'22	August'23	Growth(%)
Jammu and Kashmir	434	523	21
Himachal Pradesh	709	725	2
Punjab	1651	1813	10
Chandigarh	179	192	7
Uttarakhand	1094	1353	24
Haryana	6772	7666	13
Delhi	4349	4620	6
Rajasthan	3341	3626	9
Uttar Pradesh	6781	7468	10
Bihar	1271	1379	9
Sikkim	247	320	29
Arunachal Pradesh	59	82	39
Nagaland	38	51	37
Manipur	35	40	17
Mizoram	28	32	13
Tripura	56	78	40
Meghalaya	147	189	28
Assam	1055	1148	9
West Bengal	4600	4800	4
Jharkhand	2595	2721	5
Odisha	3884	4408	14
Chhattisgarh	2442	2896	19
Madhya Pradesh	2814	3064	9
Gujarat	8684	9765	12
Daman and Diu and Dadra and Nagar Haveli	311	324	4
Maharashtra	18863	23282	23
Karnataka	9583	11116	16
Goa	376	509	36
Lakshadweep	0	3	853
Kerala	2036	2306	13
Tamil Nadu	8386	9475	13
Puducherry	200	231	15
Andaman and Nicobar Islands	16	21	35
Telangana	3871	4393	13
Andhra Pradesh	3173	3479	10
Ladakh	19	27	39
Other Territory	224	184	(18)
Center Jurisdiction	205	193	(6)
Grand Total	100526	114503	14

Source: Ministry of Finance