GST collection rose to over ₹1.55 crore in January: the second highest collection on record

Gross GST revenue collected in the month of January 2023 till 5:00 PM on 31/01/2023 is ₹ 1,55,922 crore, of which CGST is ₹ 28,963 crore, SGST is ₹ 36,730 crore (₹ 178,993,000, IGST is ₹ 1,9595 collected on import of goods) and cess is ₹ 10,630 crore (including ₹ 768 crore collected on import of goods)
The revenue in the current financial year up to January 2023 is 24 percent higher than the GST revenue in the same period last year. This is the third time, in the current financial year, that the GST collection has crossed the ₹1.50 crore mark. The GST collection in January 2023 is the second highest after the gross collection of ₹ 1.68 lakh crore reported in April 2022.
The financial ministry said in a statement. “During the last year, various efforts have been made to increase the tax base and improve compliance. The percentage of filing of GST returns (GSTR-3B) and statement of invoices (GSTR-1), by the end of the month, has improved significantly over the years,” the ministry said.
In the October to December 2022 quarter, a total of 2.42 million GST returns have been filed by the end of next month, compared to 2.19 million in the same quarter last year. This is due to various policy changes introduced during the year to improve compliance, he added.
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