GST revenues rise 26% amid imports surge

This is the seventh successive month that revenues from the indirect tax have remained above ₹1.4 lakh crore

India’s gross Goods and Services Tax (GST) collections hit ₹1,47,686 crore in September, 26% higher than a year ago, with revenues from goods imports rising 39% and domestic transactions and services imports yielding 22% more revenues than September 2021.   

This is the seventh successive month that revenues from the indirect tax have remained above ₹1.4 lakh crore and marks the eighth such occasion since the GST regime was implemented in July 2017. 

On a month-on-month basis, September’s revenues that reflect transactions carried out in August, are 2.84% higher than August 2022 GST kitty. In August, 7.7 crore e-way bills were generated, 2.66% higher than the 7.5 crore bills generated in July 2022. 

 “The growth in GST revenue till September 2022 over the same period last year is 27%, continuing to display very high buoyancy,” the Finance Ministry said. 

While central GST collections accounted for just ₹25,271 crore in September, State GST inflows contributed ₹31,813 crore , while Integrated GST or IGST brought in ₹80,464 crore , over half of which came from import of goods. GST Compensation Cess collections were ₹10,137 crore, including ₹856 crore from goods imports. 

This month witnessed the second highest single day collection of Rs. 49,453 crore on 20 th September with second highest number of 8.77 lakh challans filed, next only to Rs. 57,846 crore collected on 20 th July 2022 through 9.58 lakh challans, which pertained to end of the year returns. This clearly shows that the GST portal maintained by GSTN has fully stabilized and is glitch free. 

September 20 marked the second highest single day GST collection of ₹49,453 crore with the second highest number of 8.77 lakh challans filed, the Ministry said, asserting this “clearly shows that the GST portal maintained by GSTN has fully stabilized and is glitch free”.