GST kitty swells 10% to Rs 1.64 lakh cr in Dec

New Delhi: Goods and Services Tax (GST) collections jumped 10 per cent to about Rs1.64 lakh crore in December compared to Rs1.49 lakh crore in the same month a year ago, the finance ministry said on Monday. During the April-December 2023 period, gross GST collection witnessed a robust 12 per cent growth, reaching Rs14.97 lakh crore, as against Rs13.40 lakh crore collected in the same period of the previous year, the ministry said in a statement.

The average monthly gross GST collection of Rs1.66 lakh crore in the first nine-month period this year represents a 12 per cent increase compared to the Rs1.49 lakh crore average recorded in the corresponding period of FY23, it said.

“The gross GST revenue collected in the month of December, 2023, is Rs1,64,882 crore, out of which CGST is Rs30,443 crore, SGST is Rs37,935 crore, IGST is Rs84,255 crore (including Rs41,534 crore collected on import of goods) and Cess is Rs12,249 crore (including Rs1,079 crore collected on import of goods),” it said.

Notably, this marks the seventh month so far this year with collections exceeding Rs1.60 lakh crore, it said.